Yes you can. Set goals, invest in stocks early, live in a strict tight budget. You can become a millionaire one day soon.
You don’t have to be in a very rich job in order to become rich. Any job is fine, but Budget! Budget! Budget! is very important.
If you set a budget for one month, stick it, don’t take extra amount from money even if you end up starving. Stop buying things that you don’t need to live with.
Save money with the intent to invest, particularly in stocks. Once you think your money is out of control, get a financier mentor to help you with guidelines.
Fear of having no job, no savings, no investments and no option to retire early can make one become motivated.
Becoming a millionaire is much easier when you’re in your 20s or 30s because you have more energy, less dependents and little to lose.
It takes lot of willpower and discipline to save money even when you have more money. I mean even after getting a full time job, living like a student who is having student loan.
There is no secret formula for becoming a millionaire. Working hard takes absolutely no skill.
For example: When Jack was 22, he only had about $4,000 in his account. Regardless of whatever he had, he invested 80% of his money in one stock and got a 5,000% return. Part of it was luck. But he did his research on which stocks to invest, took a big risk and it paid off. Because when you are young, you don’t have much to lose. And you can take bigger risks.
Make it a goal to own a primary residence real-estate property as soon as you know where you want to live for the next five to ten years. If you put a 20% down payment on a home and it goes 3% up per year, that’s a 15% return on your cash. Plus property will now generate a steady stream of income too.
There’s no shame in being young and poor. Drive a cheap car. Live in a modest home. Don’t eat out every day. Don’t buy clothes you don’t need. Remember, every dollar counts…..
Just live like you are poor than what you actually are…..
You can make money by working a full-time job or by starting a business. Better yet, you can do both. Over time, your side hustle might turn into a big business that will generate even more income than your full-time job.
The amount of money you save is more important than the amount you earn. I know many people who made millions and then ended up broke a few years later because they had no idea where their money went. Because when you become a millionaire, you are tempted to spend unnecessarily on things.
So, be extra careful in what you invest and how much you save. Live like a poor even if you are not. You can become a millionaire in 5 years.
Thank you for reading!