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I became a millionaire before my 22nd birthday and I have to say there is no better feeling than being “above” the rat race and living with true freedom and luxury. Call me superficial, but it’s not just about the lifestyle or the money, it’s the feeling of true self-sufficiency that brings a smile to my face every morning. Most people think it takes decades to achieve this kind of success, but they’re wrong.
Here are three tips to becoming a millionaire when you’re young:
Tip #1: Deprioritize Traditional Schooling
I know, I know, everyone loves the slogan “stay in school” because school teaches you so much and a degree leads to financial security over time in the form of steady employment. But if you want to make millions when you’re young, you have to disregard such nonsense as years of student loans and then a possible middle class-paying 9 to 5 job won’t make you rich or independent anytime soon.
Doctors, lawyers, investment bankers all have solid well-paying jobs that cost them six figures and a decade of precious time to achieve which pretty much wipes out the chances of getting rich at a young age. Of course, most parents everywhere want their children to go this route because it’s safe. I’m not saying to quit school entirely, just deprioritize it and spend more time on activities that CAN make you rich and successful at a young age.
Tip #2: Be Passionate & Practice, Practice, Practice
The world is a vast and fast-changing place, but one constant remains; there’s huge value in being a true expert at something. And to do that, you will need to work harder than you ever thought possible to refine your skills so you better enjoy your chosen profession because it’s your life!
I made $100,000+ senior year of high school and then $700,000+ during my freshman year of college by trading penny stocks, my chosen passion, and that planted the seeds for my consistent seven-figure-per-year earnings these days.
Becoming an expert at anything, whether it’s art, singing, programming, stock trading, sports or even plumbing is not an easy task, but once you know your stuff and can prove your expertise regularly, you will be rewarded monetarily in the millions of dollars.
Tip #3: Know The Odds & Opportunity
Understand that your loved ones prioritize schooling first since it’s a tried-and-true method of getting a good job and living decently if not handsomely and the odds of becoming rich when you’re young are very small. But don’t overestimate security and underestimate your potential. As Eminem says “as we move to a new world order, a normal life is boring” and even if you don’t succeed at getting rich when you’re young, by honing your passion and becoming an expert at your chosen profession, you will likely reap the rewards later on life.
Long story short, aim high, start following your dreams right away, deprioritize dream-killing school and jobs during the day and ditch your friends and family at night to give yourself more time to refine your skills. And don’t worry if you don’t have success right away – very few do. By following this risky but possibly rewarding path, and understanding the risks and odds ahead of time, you give yourself the best possible chance to getting rich when you’re young and then truly enjoying the rest of your life like you’ve always dreamed.
Things I Liked:
1. The reviews on the newest superhero movie “Guardians Of The Galaxy” are incredible, I can’t wait to see it !
2. This week I’m taking my girlfriend to the Jay Z & Beyonce “On The Run” Tour & we’re eating front row, I’m already loving it due to the anticipation!
3. The stock market had its worst week in 2 years, GOOD! We’re long overdue for some consolidation, it’s healthy & much needed.
Up:
Props to Taylor Swift for consoling one of her heartbroken fans on Instagram, it’s nice to see a superstar that truly cares for her fans
Down:
Paul George’s injury highlights the risk of sports as it takes years to achieve greatness & it can all come crashing down quickly.
