If you were not born into a rich family, then for the cherished goal of becoming wealthy, you need to make serious efforts at a young age. What can be done in twenty years to accumulate a decent fortune by thirty? Do not immediately give up on such thoughts with your hand: the researchers note that to achieve this goal is quite possible. It is only necessary to adhere to the optimal strategy. What is meant? Let's find out.
It's possible
Millionaire Steve Siebold, who independently accumulated a decent financial condition, notes: “In the free market economy, anyone can earn as much money as he wants.” This also applies to 20 years of age.
To help you succeed by 30, we've put together some tips from people who became millionaires at a young age. Naturally, this article does not guarantee you the status of a millionaire, but the tips below will increase your chances of such success.
Focus on earnings
Grant Cardon, who became a millionaire at age 30, notes: “The first step is to focus on increasing profits with a regular increase in income.” He continues: “At 21, my income was about $ 3,000 (almost 200 thousand rubles) a month, and nine years later it was already 20 thousand (more than a billion rubles). Start tracking money, and this will make you control the income and see potential opportunities to increase growth. "
Someone might think: "Of course, easier said than done." However, to achieve the goal, there are various options: become an entrepreneur, complete several highly paid tasks, try to get passive income (real estate, insurance, crowdfunding, and so on). In a word, expand your horizons.
Investing and the right attitude to money
In gaining financial prosperity, the role is not so much the size of your salary as regular savings and successful investment. Researchers agree that the best way to save money is to invest wisely. One financial expert claims that wealthy people invest about 20% of their income each year.
The aforementioned Grant Cardon recommends: "Put your money in secure, sacred (untouchable) accounts. Never use these accounts for anything, even for emergency cases. This will significantly increase your chances of success."
Moreover, how you manage your finances right now is important. For example, Warren Buffett (an American entrepreneur) never spends more than three dollars for breakfast. No need to waste money on trinkets, be famous for your rational approach.
Refusal from constant salary
What is meant? The usual way to get money, salary seems to be the safest. However, experts agree that nothing suspends financial growth as much as relying on a constant modest salary. Steve Siebold argues that rich people, as a rule, are self-employed and determine their own income. "The most successful people prefer not just to work off certain hours, but to increase capital through their labor and the search for new opportunities to increase finances."
Develop multiple sources of income
One way to earn more is to increase your sources of income. One study emphasized: "Many of the millionaires have several sources of profit: 65% had three, and 29% had four or more."Where to find these additional resources? For example, it can be rental of real estate, investments in the stock market and partial ownership of an additional business.
The study goes on to say, "The more accumulation resources you can create in life, the more stable and secure your financial level will be."
Set goals
Everyone knows that if there is a clear goal, it will be much easier to work. If you want to make more money, you should have this approach, but along with it it is important to have a concrete and real plan for achieving it. Money will not just appear, you need to work on it.
The desire to improve your financial condition is a good goal, but you will achieve it if you understand what you want and how to get it. This will require your concentration, courage, knowledge and great efforts, but it's worth it. Be confident in your abilities.
Connect with people who can improve you
We are well aware of the expression: "One head is good, and two is better." Andrew Carnegie, who also started from scratch before becoming one of the richest, attributes his success to communicating with talented people.
The idea is to surround yourself with people who share your vision, because several smart and creative minds are stronger than one. In addition, we become similar to those with whom we communicate, so the rich and tend to communicate with more affluent people.
Siebold continues: “Engaging with people who are more successful than you can broaden your thinking and help increase your income. The reality is that millionaires think of money differently than middle-income people, and you can get a lot of practical advice in their presence. ”
Be disciplined and decisive
Most likely, you yourself understand how important it is to show such qualities. This is not a matter of preference or personal choice, it is a serious need for continued success. In one interview with more than twenty millionaires, it was revealed that, among other things, they are all disciplined. Experts argue that those who have earned a decent amount on their own, are distinguished by their determination and serious approach.
At the same time, this approach does not imply indecision. For the accumulation of state it is very important to make the right decisions in time. In other words, do not hesitate, do not miss your chance.
Right thinking
“Wealth begins with how you think and what you believe in making money,” explains millionaire Steve Siebold. He continues: “The secret is the same - thinking. Many millionaires at the beginning of their financial path were already known for their ambitiousness. However, as often happens, many do not even believe that they can achieve great goals. If you are always ready for the challenge that means you're on the right track. "
Siebold continues: “Do not limit yourself. One who thinks outside the box necessarily succeeds. It is only a matter of time.”
Self improvement
Another interesting point: rich people always find time to develop a skill. Whether it's reading a book, or joining an interest group, don't be lazy to waste time. This will significantly broaden your horizons: you will become more mature by learning and developing in this way. Moreover, such self-improvement will help you in the future gain another additional financial income.
Conclusion
So, the information given in the article once again reminded us that nothing is impossible. Becoming more successful is entirely possible. If after applying such tips you will feel that the previous comfort that you had in your life is not there, do not worry: this is not unusual. Temporary uncertainty pays off with interest, to be decisive, to build relationships with the right people, invest wisely and not forget about several sources of income.
We hope that these tips will help you become more successful and increase your starting capital.