Here are the 10 steps that I compiled 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!Be known for your work ethic, not the trinkets that you buy. According to American businessman and investor Robert Kiyosaki, its a wise thing to invest on assets rather than buying liabilities. Investing on assets will increase your income thus you can be able to buy and live the life you have always wanted.
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).
4. Avoid debt that doesn’t pay you. Make it a rule that you never use debt that won’t make you money. 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. Everyone hates being poor and that’s a fact.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.” and I agree with him.
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 way to 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.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 KES 10 million, not KES 1 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.
N/B Avoid get-rich-quick schemes, be ethical, never give up, and once you make it, be willing to help others get there too
“Think little goals and expect little achievements. Think big goals and win big success.”
David Joseph Schwartz