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
11p.m. making an extra sale. 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.
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.
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