To some people, getting rich and becoming a millionaire is a topic that shouldn’t be publicly discusses. While to some people, archiving this by age 30 is a taboo.
I can boldly say that it is achievable and it should not be seen as a taboo. Because I know a lot of people who graduated (dropped out) from college by age 25 with lots of debts and yet became rich before they turned 30.
Take Mark Zukerberg (facebook founder), for instance, he became a millionaire before his 30th birthday. How did he do it?
As we all know, many of these millionaires were not born rich. The secret to their success lies in hard work, dedication and a determination to succeed.
Here are the 10 steps that will help you become a millionaire by the time you are 30.
- Follow the money by doubling your sources of income
Many people aspire to be a millionaire but they stick to “thirty days makes a month job” You cannot become a millionaire by getting paid a salary is a fact you must know. Assuming you are employed and earn 25k as salary. If you want to become a millionaire, you need to find ways of increasing your income.
Look for side hustles or part time job. You can also invest a part of your monthly earning into a profitable business that can be bringing in at least 1k for you on daily basis.
- Save to invest, don’t just save for the sake of saving.
Why must you have a saving? The only reason to save money is to invest it. Apply for a fix deposit account where you can put your saving. This type of account is somewhat untouchable; you cannot just withdraw from it anyhow. Never use these accounts for anything, not even an emergency.
Practicing this will force you to continue to follow step one (increase income).
- Don’t show off; instead show up!
“I didn’t buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income,” writes Cardone. “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.”
The problem with many young entrepreneurs is that they prefer showing off, buying expensive things instead of continuing to grow their business and increasing the cash flows.
You can’t become rich if half of your salary is spent on luxuries and other expenses.
- Avoid debt especially those that doesn’t pay
Another golden rule you must adhere to in order to become a millionaire by age 30 is that; you must never take loans that won’t pay you. If it’s that money you are borrowing from the bank to buy a car, make sure the car helps you increase your income.
Rich people use debts to leverage investments and increase their cash flow. Poor people on the other hand use debts to purchase things that make rich people richer. Think deeply before you apply for that loan; if it won’t increase your wealth on the long run don’t take it.
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- Money is a jealous lover; treat it like one.
If you have ever been in love you will understand what am saying here. A jealous lover will always want to be given priority.
So like a jealous lover, make money your priority. Rich people become richer because they have made money their first priority.
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. Ignore it and it will ignore you, or worse, it will leave you for someone who makes it a priority.
- Money doesn’t sleep nor slumber
Like a picture, Money doesn’t know about time or holidays or schedules. It loves people who are willing to work for it endlessly. If you are looking to become a millionaire before you are 30, always remember that money doesn’t sleep.
Try as much as possible to outwork everyone; don’t ever try to be the smartest or luckiest. Work extra hours whenever the need arises
Rich people never sleep. Their minds are always at work thinking of new ways to increase their investments. They wake up early and sleep late.
- Change your mind set about being poor
The first step to becoming a millionaire begins with your thinking and mindset. Like I said earlier, becoming a millionaire is a taboo to some people, while to some it is like embarking on a journey of no return.
The idea that being poor is okay should be eliminated. Think big, dream big and become rich. Bill Gates once said, “If you’re born poor, it’s not your mistake. But if you die poor, it is your mistake.”
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- Get your money to work for you
Investing is the best way by which you can become a millionaire and you should make more money off your investments than your work. Remember nobody will ever pay you enough salary that will make you rich.
If you are planning on starting a business, let the money you make create more opportunities for you. Invest in other ways and watch your life change.
- Set goals and visualize achieving them
The number one reason most people don’t get what they want is that they don’t know what they want. Rich people are totally clear that they want wealth.
For you to make more money, you must have a clear goal and a specific plan on how to achieve that goal. Money won’t just appear; you have to work for it.
Rich people choose to commit to attaining wealth. It takes focus, courage, knowledge, and a lot of effort, self-made millionaire T. Harv Eker emphasized.
- Hang out with people you admire and want to be like
Your net worth mirrors the level of your closest friends; your exposure to people who are more successful than you has the potential to expand your thinking and catapult your income. This is why the rich tend to associate with others who are rich.
The reality is, millionaires think differently from the middle class about money, and there’s much to be gained by being in their presence.
If you still think that becoming a millionaire by the time you are 30 is impossible, think again. Mark Zukerberg did it before he was even 30. So there is nothing stopping you. Avoid those get rich quick schemes, though. Make your own way through ethics and determination and be willing to assist others in making it too.
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