Ways to Become a Millionaire in Your 20s
- by admin
- March 11, 2021
- Investment | Tips
For regular income earners, becoming a millionaire can only be achieved by winning the lottery. But the odds of winning the lottery are very slim for everyone. So what are we going to do? Do we need to work hard? Do we need to invest? How can we possibly become millionaires in our 20s?
Sounds like a difficult question and an impossible thing to happen right?
But in this day and age, being a millionaire in your 20s has become easier.
That’s because money is everywhere. And earning money is not only exclusive for 30-year-old adults.
Even teenagers and those in their early 20s can earn their first millions now!
That is because today, money is everywhere. Despite the pandemic and economic recession, some people, even young ones, continue to thrive because they know where to look and find money.
If you are one of those in their 20s who are thinking of how to get your first million? Here are some simple ways that you can try to achieve that dream.
1. Learn and educate yourself
Stop checking and learning the patterns of the lottery numbers. There is no algorithm or formula that can help you figure that out. What you need to do is to use your time in reading materials about finances (like this one), tips and strategies to be financially independent, and more.
Valuable information is at the tips of your hands. You just need to use it. Research on the investments that you can do at a young age. Or the work/job that can earn you extra. You’ll be amazed with the valuable information that you will find on the internet that can help you achieve having that 7 digit bank account.
2. Be creative in monetizing everything
In this day and age, you can literally monetize everything! If you are good at something, try offering it as a product or service. Know how to write? Sell your work or create blogs for businesses. Love drawing? Draw something and sell it online. Too many clothes? Sell it online. If you will just be creative, the opportunities are endless
Here’s more – love eating or gaming? Video and stream yourself while doing those, and get paid for that! With the power of the internet, money can come from unexpected sources. And you just have to be creative and equip yourself with the right strategy to make it work.
3. Don’t say yes always. Learn to say no.
If you know you deserve more than the initial offer, learn to say no. There are other companies out there that can give you a better offer instead of sticking with what is available. On the other hand, if you have a great product, don’t try to sell it for the sake of selling it or accepting the lowest offer. If you believe that your product is great, there will be people or clients who will value it the way you want it. So don’t undersell and learn to say no.
4. Don’t let your money sleep.
Putting your money in the bank is safe. But it won’t double since they are just there sleeping. Learn to invest and grow your money. There are a lot of things that you can do to do that. You can start a small business or even acquire a small property that you can have leased or rented.
Buying a property to turn into a money-making machine is a sure and long term way to make you a millionaire. If you need help in buying properties that are within your budget, simply contact us for free housing consultation and site tripping 0918-963-6760.
5. Treat every purchase as an investment
Before buying something, think about it and ask yourself will it make me a millionaire? Want to buy a new laptop or a tablet? Ask yourself if it can help you in making money online? Buying new shoes? Ask yourself – will this help me reach my million peso dream? Be practical in your purchases and treat every single purchase as an investment.
6. Stick to your savings plan
Your 20s is the best time to save. And if you are consistent with your savings plan, you can easily get your first million in just a few years. The key here is to be consistent and faithful in following a savings plan you set for yourself. If you set a savings plan of 10,000 a month, that is just 100 months or 8 years. 8 years may seem a long time. But time flies so fast. So if you save at least that amount while you are in your 20s, you will have your first million before you reach 30.
The best time to be a millionaire is now. With all the resources and information around us, we just need to be creative, practical and “madiskarte” in achieving that dream.
What do you think? Are you ready to get your first million?
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May you have more millions to come!