Be­come a mil­lion­aire by age 30

Lesotho Times - - Jobs & Tenders -

GET­TING rich and be­com­ing a mil­lion­aire is a taboo topic. Say­ing it can be done by the age of 30 seems like a fan­ shouldn’t be taboo and it is pos­si­ble. 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. 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. 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. 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.

Steer clear of peo­ple that sug­gest your fi­nan­cial dreams are born of greed. Avoid get­rich-quick schemes, be eth­i­cal, never give up, and once you make it, be will­ing to help oth­ers get there too. — En­tre­pre­neur

There is no short­age of money on this planet, only a short­age of peo­ple think­ing big enough.

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