8 small steps to take in your 20’s to become millionaire by 30
1. Focus on your earnings
How often do you think about money or to become millionaire?
Thoughts about paying bills, saving money and decreasing expenses consumed our mind for many years. While saving money is great and necessary too, but really is it?
For instance, you’re earning $40,000/year in United States, and your expenses(bills, home-pay, etc) goes above $30,000. You can’t live your life with the remaining 10 grands, all you could do is survive.
Majority of the population focuses on spending less money than earning more.
Instead of being so focused on how to save money, we needed to change our mindset and focus our thoughts on earning more money. Do you want more from life — more money, more security, more freedom, and more time for the activities you love? Then first you need to embrace this financial truth:
“There’s a limit to how much you can save, but there’s no limit to how much you can earn.”
The wealthy also know saving is important. But they know earning money is even more important. Most people are more concerned with the modest gains they accumulate from their savings and investments than they are with using their billion-dollar minds to create a fortune.
“Rich people focus on earning, while average people focus on saving.”
The focus on earning must be consistent and deliberate. Even in the midst of a cash flow crisis, the rich reject the losses and focuses on the ways to keep the income growing. They are the masters of focusing their mental energy where it belongs- on the big money.
Find more ways to grow your income, start a new side-business, a blog/website, or any other investments. There are thousands of way to grow your wealth. Find one and Start today!
2. Proper investment is the key
Investing offers the best means to achieve your long-term financial goals. But any discussion of investing must begin with this simple truth- Investing requires taking risks.
Your task is to create a plan that suits you and stick with it. You can achieve this goal regardless of your current style of saving and investing. Here are the six keys to investment success. Note that these are keys, not “secrets.” There really aren’t any investment secrets. The methods employed by successful investors are well known.
- Define your long-term goals. Clarify what it is that you try achieving, especially in the long run. You have to know where you want to go to plan your journey. Develop a plan to achieve these desires.
- Avoid self-destructive behavior, such as chasing high-performing investment categories, or making major tweaks to your long-term investment plan based on current conditions. Having clarified the plan should help you keep focused on the long term.
- Understand that crises are inevitable. As part of our on-boarding process for clients, we take them through a fire drill to show that they should expect the stock market to be volatile, and at times uncomfortably so, and what actions we take during those times. Surprise is the mother of panic.
- Don’t attempt to time the markets. Not only is it very unlikely that you are able to do so; more importantly, it is not necessary. Whether it be in stocks or bonds or another asset, you can achieve the investment performance that you need to reach your goals for retirement and other needs, without the risks of market timing.
- Don’t let emotions guide your investment decisions. Work with the behavioral advisor to ensure that you make your decisions based on what’s best to achieve your plan. It is hard not to be emotional about your own money, especially during the inevitably difficult times. That is why having an independent financial advisor help guide you is important.
- Disregard short-term predictions. Let the long-term historical record of the markets be your guide – both in short and long term. Focus your energy on developing the appropriate plan for your circumstances.
3. Ask for help
While it may sound simple enough, accepting help is something that is extremely challenging for all of us at one time or another. It can be especially hard for those of us who believe that seeking help undermines our independence and our ability to cope. However, by refusing to accept help, we disregard the fact that we are social beings who need to cooperate with one another in order to thrive. It’s possible to change your thinking and become more receptive to help in the future.
“Ask for help not because you’re weak, but because you want to remain strong.”
We’re all imperfect and we all have needs. The weak usually do not ask for help, so they stay weak. If we recognize that we are imperfect, we will ask for help and we will pray for the guidance necessary to bring positive results to whatever we are doing.
There’s a popular African proverb that brings light to this topic, “It takes a village to raise a child”. What this proverb actually means is that the work of raising a child cannot be done alone; rather, an entire community must participate to some extent for the best possible outcome.
Now replace the word “child” with “team,” “company,” or even something bigger like a “movement”, you will see how this analogy can easily be applied. We are more powerful, stronger and effective when we work together. When we co-create, we can produce better outcomes and more innovative solutions in shorter periods of time than if we were to try to do everything on our own.
It’s not just a theory, it’s our reality.
4. Don’t show off, show up
Too many people buy things they don’t need, with money they don’t have, trying to impress people they don’t even like.
Think of all the ordinary millionaires next door who basically wear shorts and flip flops rather than thousand-dollar suits every day just because it’s more comfortable. It’s almost like the trappings of being rich (suits, high heels, fitted, tailored clothing), are a prison for them and a sign of NOT being rich.
Or how about the billionaires like Warren Buffett, or Mark Zuckerberg who have never felt the need to buy a massive castle, a Rolls Royce in every color, or any other rich trapping? Because they believe in working more rather than showing off the billions.
The world has never needed those who show off their bling, successes or their philanthropic endeavors with no other intention than to receive praise and attention. What it has and will always need is for people to show up when needed, when it is not popular or trendy to do so.
Don’t just randomly go to a poor and feed him while filming and publishing that act in public just for a show-off. This can be even done without letting the world know that you’ve done it. Do it for the peace of your mind, not to compete in the social media trendy race.
We need to ask ourselves why did we put something up. What is our intention? Is it to simply show off? Or is there something else? Can we perhaps make every post or tweet an offering to the world? In the end, only you know the real reason why you do something. So don’t concern yourself with what others would think. Be at peace with yourself.
5. Never settle for less
So often we settle for less and rationalize it away. We are inches away from what we truly want, but we stop and sit, or worse yet, turn back. It’s right there, we can smell it, we can taste it, and feel it, but we always seem to settle for less.
Never settle because once you start settling for less than what you truly want, you send a message not only to yourself but to those around you that you don’t want it bad enough or maybe you don’t want it at all.
Who are you not get what you truly want? Who says you can’t have what you truly desire?
Note carefully that the people saying that you can’t are the ones who, not surprisingly enough, haven’t gotten what they truly desired. They too had been where you are, in that critical moment where you are making the decision whether or not to grab what you truly desire and when they see that, they become inflamed with passion and entreat you to turn back, to come and live like them, eat and drink like them, and complain like them about how close they were to getting what they wanted.
It is all a test. Life is all a test to see if you choose the path of existing or living. The path of existence is the default for all things on this earth, but the path of truly living is only reserved for those who never settle for what they truly want.
Therein lays the beauty of it all. We all want different things. Not everybody wants the wife and two kids with a two story house and a white picket fence along with a BMW in the garage, become millionaire. Some people want to live a very simple life. If that’s the case, don’t settle for anything less.
For those who settle for less than what they truly want exist only to consume space, time, and resources. To fill a void. Nothing more, nothing less.
Why to just aim for $1 million when you can achieve anything more than that.!
6. Be conclusive
Nothing changes your life like a real decision.
When you make a decision and every bit of you is committed to it, it’s amazing what mountains you can move. When you commit to a decision, you are essentially saying to the world, “This is how it will be.” If you find something that you are passionate and excited about and add decisiveness, you can make anything happen.
Decisiveness is the ability to make a decision even when you’re uncertain. If it’s the wrong decision, you’ll quickly figure it out and be able to correct course. If you don’t make a decision, however, there is only one certain outcome: nothing will get better.
Indecision becomes decision with time. The only way to improve your life, to move toward what it is you really want most and to feel the incredible sense of certainty that comes from knowing you’re making progress, is to harness the power of decision. It’s a muscle, and, like any other muscle, it must be used consistently to grow.
Leadership is about making decisions. If you’re going to be the leader of your own life, you’re going to need to make decisions. Whether those decisions are right or wrong, you’re going to find out a lot quicker than if you sit around and do nothing.
7. Take risk at the right time and conquer
Risk-taking is a factor in everybody’s life, every single day, knowingly or unknowingly you’re involved in some risks.
Risk-taking can expose you to potential loss, failure, embarrassment, rejection, criticism, and the possibility of getting hurt. All of these outcomes can seem rather painful and disheartening, however, you must keep in mind that every great feat that has ever been achieved in human history required some kind of risk which they took at a right time. In fact, many times these courageous people would often fail, embarrass themselves, make mistakes, open themselves up to criticism and rejection, and yet they would still keep fighting. Eventually, the risks paid off and they obtained the tremendous rewards that risk-taking brought forth into their lives.
So when it comes to risk-taking in business, the only option is continued growth, defined as an upward trajectory of profits. To keep your business moving, and moving in the right direction, you have to take risks now and then. “Playing it safe” all the time is a recipe for disaster.
Take the risk at the right time, and you’ll be rewarded for it.
8. Invest in yourself
There’s only one guaranteed investment in life, and that’s you. That’s right, you.
You are the most important place you can put your time and money. Yet you are probably the one thing that tends to get neglected in life. When other people’s priorities come up or it’s time to sacrifice something, you might be the first to bend. But investing in yourself is not a selfish act. In fact, by helping make your life better, you will by default make the lives better of everyone else around you. And investing in yourself is the best way to ensure that you are well-taken care in the future, too.
Why is investing in yourself so important? Besides being the person you have to spend the most time with, you are also the best example of seeing an immediate return on investment. Have you ever invested in an extra hour of sleep and noticed immediately how much better you felt? Have you ever invested a little extra money each month into a savings account to find that you had a comfortable cushion when you needed it? Unlike other investments out there, investing in yourself is never a risk, because it always pays off.
Here are some ways you can work with:
- Learn new stuff frequently.
- Invest in your health.
- Exercise daily.
- Practice a healthy lifestyle.
- Do what makes you happy.
We hope these 8 techniques will help you become millionaire. Thank you for taking out your valuable time and reading this article.
Any suggestions are warmly welcomed.
Million dollars are waiting for you, good luck!
Have a great day ahead.