How to Become a Millionaire by the age of 30

(This is a great article by Sean Adams. Kudos to him!)




In today's current economy, young people are struggling to find jobs, racking up insanely large amounts of debt from trying the traditional method of going to college, and just over all learning the hard way that what supposedly worked for their parents is not going to work for them. They may be aware that they need to do something different, but they are struggling to find people who know another way. Their parents and teachers are stuck in the old mindset and therefore cannot help. That is why this article exists, to help give young people the basic tools they need to create and thrive in a new economy.

Tip #1: Avoid the trap of going into debt

Far too many young people are sold the false bill of goods that going into debt to get a degree from an institution of higher education is the right path to take. As a former higher education administrator and faculty member I am here to tell you that this is a false bill of goods and should be avoided. You do not and should not go into debt to pursue a degree. There is nothing wrong with getting a degree, but you absolutely should not go into debt for it. That is the single biggest mistake you can make if you want to be a millionaire by the age of 30. Debt will just be a wait hold you back for a very long time. Avoid it in all cases at all costs.

Tip #2: Follow your passion

We are all born with interests and talents that we love and know we have a natural talent for. Things that make our heart sing when we are doing it. The problem we often face is that these passions are not always socially acceptable and the adults in our lives do not support our pursuit of these "dreams". Too bad for them, pursue your dreams and focus on your passion and the things you are good at. Becoming a millionaire takes time and effort, and the only way you will be willing to put in the needed time and energy is if you love what you are doing. This love comes from following our passion.

Tip #3: Stop focusing on trying to improve your weaknesses

It is my experience that all of organized education is designed to teach us that we are supposed to focus on improving at the things that we are not naturally skilled at. This is a waste of time and will only hold you back from your success. We were given natural talents and we should work on improving those natural talents instead of focusing on and wasting time on improving our weaknesses. There are plenty of people out there that are skilled at areas you are not, so outsource to them, pay then to do the things you do not like to do so you can spend more time focusing on and improving on those areas you love to do and are good at.

Tip #4: Manage your money well

One of the things that all millionaires have in common is that they know how to effectively manage their money. This means that they know how to invest money for the long term, how to focus on education, how to have fun, etc all while not going into debt. My personal suggestion is simple, divide all income you receive into different categories and only spend the money from these categories if you have enough. The simple way of dividing up your money is: 50% for necessities, 10% for long term savings for spending, 10% for your financial freedom( your golden nest egg), 10% for play to be used monthly to act like a millionaire and 10% for give. If you are smart and manage your money in this manner from the start you will be amazed at how quickly it can grow.

Tip #5: Use the power of the internet

Odds are that you have forgotten ore about computers that your parents have ever known. The internet is THE business opportunity that is making more millionaires than anything else right now. Real Estate is upside down, investing is volatile, but the internet had millions of new participants on a regular basis and billions of dollars a year are spent there. All you have to do is learn the right way to monetize the web and you will be successful. Just take the time to be focused and learn the right way and you will be able to use the power of the internet for your financial success.

Becoming a Millionaire by the age of 30 will take time, effort and passion, but it can be done. Focus on what you love, manage your money well and use the power of the internet for your success. This is not about madly pursuing get rich quick schemes, it is about building a lasting long term business or businesses based on your passion that will change your life. Be in service to others, give wisdom and be passionate and the money will follow.
Sean is an internet entrepreneur who specializes in helping people to identify their passion and find a way to turn that passion into a monetized website that makes sustainable passive income. To learn more about how to learn the basics check out http://www.MillionaireMindForFree.com/

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