Being a young millionaire is everybody’s dream. We all want to drive exotic cars, live in fabulous homes, and wear expensive clothes. And turning these fantasies into reality requires a tremendous amount of work and effort. But it is achievable. Still not convinced? Here is how you can become a millionaire this year before you turn 30.
Invest in stocks
Even though investing in stocks is fraught with unbelievable risks, you need to learn how to do this investment if you really want to make millions before you are above 30. By investing in shares, you can make a decent return within the first year. Don’t say you are too young for this. Even as a teenager with little cash, you can buy the shares of some reputable companies like Hdfcbank, Infosys, Bharti airtel, SBI among others. These firms offer stocks with a good rate of return. And it is advisable to start investing in equities at an early stage of your life. But make sure you know about stocks and equities before investing your money. Or better still, hire a professional stock broker if you don’t understand how to go about this investment. This way, you are on the right track to achieving your financial dreams.
Ignore traditional industries
You need to understand that being a lawyer, doctor or engineer or working in traditional industries will not help you become a millionaire in your twenties. These professions often require extra schooling which costs a lot of money and takes a whole lot of time. Individuals with these jobs often have an earning ceiling which is very difficult to break through. You won’t find any of these professionals on Forbes lists of millionaires. So, what you need to do instead is to focus on new industries such as internet marketing, design, expert blogger and so on. These professions do not have an earning ceiling nor require a lot of education. Remember, it is all about making millions, not about how many degrees you have.
Start up a business
The likes of Mark Zuckerberg and John Koon only came up with an idea which changed the world and their lives. Having a solution to the problem of people around you or across the globe is the key to making millions. You also need to know how to market and monetize your ideas. If your business grows substantially, you could find many investors who can help you take your business to the next level.
Keep educating yourself
Reading is one important thing you can do to boost your chances of making millions before you turn 30. You need to study and read books on diverse topics if you want to climb the ladder of success quickly. There are many ways you can do this. You can go to a library near your area read any books that you like. Many libraries are online too. And if you prefer buying books, you can visit Amazon, Open library, Alibris or any local books stores around you.
Don’t apply for jobs
You need to have this at the back of your mind: You are destined to be an employer, not to be an employee. If you want to make millions, then you should forget about applying for jobs. Every job has its own basic salary. And you cannot be a millionaire by simply living on your salary. Millionaires don’t earn salaries; they pay salaries. In a word, be your own boss.
Get a millionaire mentor
You need to surround yourself with successful people who have made millions at a young age. If you can’t find any mentor, read books about any millionaire you admire a lot. Study how they made it big, learn from their mistakes, and implement their business strategies. But don’t worship them or try to imitate them. You can never be like them. But guess what? You can be better than them.
Making millions before you turn 30 is no rocket science. Many young people have achieved this feat. You too can do it. All you need to do is to believe in yourself and work towards your goal.