To be truthful with you, if you are on the mission for becoming an entrepreneur your future may seem blank. That’s why you may think that it’s impossible for you to become a millionaire in your life.
Here are 10 life rules that I’ve come up with that have helped several people to become millionaires before turning 30 years old.
1. Determined As Early As Possible
On your, path of 10 life rules for becoming a millionaire start as early as possible. To be a Millionaire you doesn’t need a bit off impulse from a movie and proclaims that you’re going to become a millionaire within the next year. Becoming a millionaire requires discipline, sacrifices, and long-term planning. You need to start profiting as early as possible. It’s not a one day job you have to hustle every day all days of the year. There is no vacations or breaks in between.
2. Start Ensuing The Money
To become a millionaire before 30 you have to follow the money from the start, you have to combine different income streams into the one lane. Because on average to be a millionaire you must have at least 7 income source.
“In today’s economic environment you cannot save your way to millionaire status,” writes author and radio host Grant Cardone. “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.”
3. Develop A Growth Mindset
According to Grant Cardone, The 10X-Rule is the amount of effort and thought that’s needed to get anything done successfully while adjusting your thinking to dream big in your life. The secret to extraordinary success is to put in 10 times the effort than most people do. Because you need to empower yourself with new skills if you want to lead.
4. Plant Assets Not Liabilities
Robert Kiyosaki in his book Rich Dad Poor Dad points out that we must avoid liabilities and focus on developing assets in life. That’s the simple reason that rich is getting richer and many lose all their money after years. We have seen much celebrities losing their money because they had spent all on buying a house, cars, and some sort of vacations.
5. Follow The 80-20 Rule
If you are serious about adding positive value to your life, the most important rule to follow is Pareto principle called as 80-20 rule. You may have expected me to say that 20 percent of your activities produce 80 percent of your rewards, and that is true, there are probably a handful of activities you do each week that produces the success. Stop wasting time on activities that add no real value to your life. Focus on habits that give you the more result.
Take it as that, if you are developing your fitness to great level from weight 2 or 3 exercises stop wasting your valuable time on doing cardio on the treadmill for hours.
6. Save To Invest Always
Here’s another alarming tip from Grant Cardone, “The only reason to save money is to invest it.” He suggests that you place your saved money into “into secured, sacred (untouchable) accounts.” Whatever you do, don’t dive into these accounts – even if it’s an emergency.
You may be broke a couple of times throughout the year, but as mentioned above, in order to become a millionaire you have to make sacrifices. Save at least 25% of your income to those accounts and they reward you some years later.
7. Acknowledge In Your Downtime
As a human, there is the time we feel like to quit on our pursuit of becoming a millionaire.During these downtimes, focus on making a couple extra bucks, read a book, learn a new skill, or exercise. These small habits will not only help you reach your financial goals, they’ll keep you mentally and physically alert so that you remain healthy and productive. These small focuses keep you alert enough to spot an opportunity when it hits at the moment. Start exploring more about you in this downtime join Cross Fit or do bungee jumping.
8. Be A Preserver Even If You Are Rich
9. Dominate Your Debts First
Debts are the soul killer’s of millionaires if not handled properly. The credit cards, for instance, have some perks in terms of cash back or reward points. But if you are due in returning the amount of money you are putting off is the waste of your hard earned money.
Avoid all kinds of debts in the first place, if you own any try to dominate it as soon as possible.
10. Network With Millionaires
If you have to pursue an MBA degree you go to an MBA college same is with the aim of becoming a millionaire. You must live and breathe with the millionaires because it was said that you are the average of 5 people you spend your time with.
This may have been a challenge years ago, but you can now attend networking events in your area through sites like Meetup, attend webinars, follow successful people on social media, and subscribe to their newsletters. Not just scrolling through Instagram stories of successful people all day along meet them in real life.
Do share these 10 life rules with people who are ambitious to become a Millionaire