How to Become a Millionaire by Age 30 (aka soon if you’re older than 30)

To read the excellent full article by Grant Cardone, click here!

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 Make a Million Dollars Online

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.

Why Successful Habits Are About Structure, Not Effort

Full article from Fast Company can be found HERE

START WITH A SMALL GOAL
The number one driver of whether a habit change is a success or not  is how big the initial goal is. Because everyone, if they’re consistent, will eventually achieve something massive. But the people that end up failing are the people trying to achieve overnight success.

CONSISTENCY TRUMPS EVERYTHING
The idea is to start with something really, really small and let it grow into a bigger habit or routine. You could write your goal as “go the the gym.” Not “stay at the gym for an hour,” but just “get to the gym.” Put on your workout clothes. It’s not that you have to run five miles; what matters is that you just get your running shoes on three times a week. In a month or two months, you’ll be running as far as you want to run. That consistency ends up trumping everything else that you can do with goal setting.

SCHEDULE IT AND CREATE AN AUTOMATIC REMINDER
You can be motivated, you can be able, but if you forget to do it, you’re not going to make any progress. Having a trigger in your life is a big part of that structure.

MAKE SURE YOU HAVE THE TOOLS TO DO IT

If you go to a gym, a lot of time it’s hard because you don’t know what exactly to do, you’re shy or uncomfortable around some of the machines. That’s why a lot of people get a coach at the gym, it makes it easier for them to get started. Then on the trigger part, you can link your goal to a pre-existing behavior.

SET YOUR PRIORITIES FIRST THING IN THE MORNING
For me, my number one productivity practice is to set priorities at the beginning of the day, before I get lost in the chaos that goes on around me. When I sit down at my desk, I set priorities. I’ve trained myself that that’s the trigger for this other goal that’s not as natural, but is actually really important to me. It was a major a-ha moment when I realized that productivity is about how important the things that I get done are. I used to count how many things I crossed off my to-do list. Now, much more importantly, I actually work in the prioritized order.

PICK A REPLACEMENT HABIT
A common tactic applicable to any type of behavior change is picking a replacement habit. If you have a bad habit, the way to break it is not to just will yourself, which is a ton of effort, but to give yourself an alternative.

 

Work Inspiration: Jimmy overcomes one of life’s many obstacles

 

Happy Monday, everyone! Hang in there!

The Day-to-Day Activities of Music Mogul Pharrell Williams

A DAY IN THE LIFE (from Fast Company)


Time He Gets Up: “Generally, around 9 a.m.” (He never uses an alarm clock.)

First Thing He Does Each morning: “First thing I do is thank the master. I thank God every day. Then I lie there for a few minutes and just sort of . . . be. Then I shower, and that’s where a lot of my concepts come from. I write songs in there sometimes. If you don’t interrupt [your subconscious] with the ego, or are like, No, it’s gotta be like this, then a lot of ideas will come. Once you start judging it and editing it, then you’re no longer tapped in. You’ve moved it over to your mind before you even realize it. So I spend a lot of that time just standing there in the water with a blank stare. It is often the reason why I’m tardy.” To potential collaborators, he adds, “When you hear me say ‘traffic,’ and I wink, you’ll know what that means.”

Apps and Other Assists: Apple’s Logic Pro. “I’m a creature of habit. Now that I’m on it, it’s hard to get me off.”

Typical Schedule: “I do phone calls from somewhere between 10:30 a.m. and noon. I’m usually entering the studio between 12 and 1. I work from 1 or 2-ish to maybe 9 or 11 every day. Somewhere between 4 and 6, I may have to get on one or two conference calls about things outside of music.”

Last Thing He Does each night: “When I get back to my room late at night, I first watch MSNBC, then some Discovery Channel stuff. Then I’ve gotta go to TiVo and look at all my esoteric aliens stuff, like Ancient Aliens. I have to spend at least 30 minutes on that a night.”

Time He Goes to Bed: “Sometime between midnight and 2 a.m.”

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