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Thread: How To Become A Millionaire By Age 30

  1. #1
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    Default How To Become A Millionaire By Age 30

    http://www.businessinsider.com/how-i...0-2014-11?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...0-2014-11?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

  2. #2
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  3. #3
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    The theory is easy. But to practice it, very painful.

  4. #4

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    nice.. save to invest, use debt to make urself rich. agreed. invest and create the passive income.

  5. #5
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    1. Follow the money.

    If you work for a company that have a profit of SGD 1000 a year what do you think you be getting.

    2. Don't show off — show up!

    Be known for your work ethic, not the trinkets that you buy.

    3. Save to invest, don't save to save.

    4. Avoid debt that doesn't pay you.

    5. Treat money like a jealous lover.

    6. Money doesn't sleep.

    7. Poor makes no sense.

    8. Get a millionaire mentor.

    9. Get your money to do the heavy lifting.

    10. Shoot for $10 million, not $1 million.

  6. #6

    Thumbs up

    Quote Originally Posted by Arcachon View Post
    1. Follow the money.

    If you work for a company that have a profit of SGD 1000 a year what do you think you be getting.

    2. Don't show off — show up!

    Be known for your work ethic, not the trinkets that you buy.

    3. Save to invest, don't save to save.

    4. Avoid debt that doesn't pay you.

    5. Treat money like a jealous lover.

    6. Money doesn't sleep.

    7. Poor makes no sense.

    8. Get a millionaire mentor.

    9. Get your money to do the heavy lifting.

    10. Shoot for $10 million, not $1 million.
    Noted! If u need to invest in property. please see my profile post. Thanks

  7. #7
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    Go and see your profile post, still don't get what to see.

  8. #8
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    If you stop at "Millionaire" by Age 30, it is equivalent to be a "needy family" if you are the generation in your 20s.
    The purchasing power of paper money one million a few years later cannot buy you a car and a condo. So you are not even in the "middle class".

  9. #9
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    teddybear is offline Global recession is coming....
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    Really?
    People like minority here are telling us that a person can survive on just $308 per month in Singapore!
    Is he telling us a big fat LIE?
    It is OBVIOUS isn't it if $1M at age 30 now can't even afford to retire comfortably?

    Quote Originally Posted by richwang View Post
    If you stop at "Millionaire" by Age 30, it is equivalent to be a "needy family" if you are the generation in your 20s.
    The purchasing power of paper money one million a few years later cannot buy you a car and a condo. So you are not even in the "middle class".

  10. #10
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    You did not mention what's the price for achieving that.
    I am impressed when one of my sec school friend told me
    he aimed to be financial free by age 45. Work 24/7 and no time
    for family. Probably learned this from same guru. To cut long story
    short. He is now in jail with free makan and lodging. He achieved financial freedom b4 45.

  11. #11
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    What did he do, can share.

    Learn from others mistake and don't make them. This is what I learn from my father, whatever he do, I try not to do it.

  12. #12
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    Smile

    Quote Originally Posted by Arcachon View Post
    What did he do, can share.

    Learn from others mistake and don't make them. This is what I learn from my father, whatever he do, I try not to do it.
    He went into all sort of businesses. Whatever can make money, big or small, mlm included. Crossed path with all sort of people, "business partners". In no time lost some conscious in a dog eat dog world. One mistake and game over. Cannot reveal too much. What you have is worth a thought but I believe not everyone is the same.
    Financial freedom at 30 may be too fear fetch for many. Just do your best and not to upset people close to you. What his close ones need is not just his $ but his original self. Whats the point of gaining the whole world and lose your own soul..

  13. #13
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    Quote Originally Posted by 3C View Post
    He went into all sort of businesses. Whatever can make money, big or small, mlm included. Crossed path with all sort of people, "business partners". In no time lost some conscious in a dog eat dog world. One mistake and game over. Cannot reveal too much. What you have is worth a thought but I believe not everyone is the same.
    Financial freedom at 30 may be too fear fetch for many. Just do your best and not to upset people close to you. What his close ones need is not just his $ but his original self. Whats the point of gaining the whole world and lose your own soul..
    Thanks for the info. I depends on individual, some will do whatever to make money, others chose to do it slowly and legally.

  14. #14

    Thumbs up

    Quote Originally Posted by Arcachon View Post
    Thanks for the info. I depends on individual, some will do whatever to make money, others chose to do it slowly and legally.
    Yup. Positive thinking. If you see people goes to jail, there are people who can success legally. follow the legal way and not limiting yourself because someone did it illegally.

    if can't see my profile, u can visit my website at www.newsgprop.com thanks

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