Getting rich and becoming
a millionaire is a taboo
topic. Saying it can be
done by the age of 30
seems like a fantasy.
It shouldn’t be taboo and
it is possible. At the age of
21, I got out of college,
broke and in debt, and by the time I was 30, I was a
millionaire.
Related: I Had Been Fired
and Evicted, and Still
Retired at 27
Here are the 10 steps 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. My income was
$3,000 a month and nine
years later it was $20,000 a
month. Start following the
money and it will force you
to control revenue and see
opportunities.
2. Don’t show off — show
up! I didn’t buy my first
luxury watch or car until
my businesses and
investments were
producing multiple secure
flows of income. I was still
driving a Toyota Camry
when I had become a
millionaire. Be known for
your work ethic, not the
trinkets that you buy.
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). To this
day, at least twice a year, I
am broke because I always
invest my surpluses into
ventures I cannot access.
4. Avoid debt that doesn’t
pay you. Make it a rule
that you never use debt
that won’t make you
money. I borrowed money
for a car only because I
knew it could increase my
income. Rich people use
debt to leverage
investments and grow cash
flows. 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.
Related: LISTEN: How to
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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. When I was 26 years
old, I was in retail and the
store I worked at closed
at 7 p.m. Most times you
could find me there at 11
p.m. making an extra sale.
Never try to be the
smartest or luckiest person
— just make sure you
outwork everyone.
7. Poor makes no sense. I
have been poor, and it
sucks. I have had just
enough and that sucks
almost as bad. 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.”
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 Holy Grail
in 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. The
second company I started
required a $50,000
investment. That company
has paid me back that
$50,000 every month for
the last 10 years. My third
investment was in real
estate, where I started with
$350,000, a large part of
my net worth at the time. I
still own that property
today and it continues to
provide me with income.
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 $10 million,
not $1 million. The single
biggest financial mistake
I’ve made was not thinking
big enough. I encourage
you to go for more than a
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.
Steer clear of people that
suggest your financial
dreams are born of greed.
Avoid get-rich-quick
schemes, be ethical, never
give up, and once you
make it, be willing to help
others get there too.
