11 things you can do in your twenties to become a millionaire in your third decade

The American "Business Insider" website published a report in which he talked about the things you can do in your twenties to become a millionaire in the thirties.

1. Focus on earning money

The website, in its report translated by "Arabi 21", said that, according to Grant Cardon, who turned from a debt-constrained person at the age of 21 to a millionaire who made himself by the age of thirty, the first step to becoming a millionaire is to focus on increasing your income. As Cardon explained: "My income was only $ 3,000 a month, and after nine years it became equivalent to $ 20,000 a month. Earning money is easy to say and difficult to implement, but most people have options."

2. Develop multiple income sources

One way to make more money is to increase your income sources. The author, Thomas C. Corley, in a study of five-year-old millionaires who created themselves, has found that many of them have multiple sources of income. These additional sources include real estate rents, stock market investments and partial ownership in secondary businesses. On this, Corley said: "The more revenue you create, the greater your profit."

3. Save money with the intention of investing, not just to save money

According to Cardon, the only reason to save money should be investing in it later. Put your money in trusty accounts and never use these accounts for anything, not even in emergency situations. This will force you to follow the first step (increase your income).

The investment is not as complex or arduous as we think, and the simplest starting point is to contribute to the pension calculation if the business owner offers one, and to take full advantage of your company’s matching pension program if it has one - which is essentially free.

Next, consider contributing funds transferred toward a personal retirement account. If you still have money left, you can search the low-cost index funds, which Warren Buffett recommends, and look at the online investment platforms known as "Android Consultants".

4. Be regular and decisive in your decisions

According to Raphael Badzeg, an expert in the psychology of entrepreneurship, all billionaires who have created themselves are disciplined, he said: “The billionaires I have met represent the most disciplined person of all time. They have set high standards for themselves and the people around them.” After studying more than 500 millionaires, journalist and author Napoleon Hill found that they all shared one feature of making critical decisions.

5. Don't show off but show what you have

The site stated that Kardon did not buy his first luxury watch or car until his business and investments produced safe and multiple sources of income, not to mention that he did not give up the Toyota Camry when he became a millionaire. Cardon stressed the need to be known for your business ethics, not for the purposes you buy.

6. Change your view of money

"The rich begins with the way you think and what you think about making money. Ultimately, the secret has always been the same: thinking," explained the millionaire who made himself up, Steve Seibold. He continued, "While everyone believes that getting rich is difficult, the wealthy know that earning money is really an internal business."

7. Invest in yourself

Many successful and wealthy people in modern times are a fan of reading. Take Warren Buffett's estimate, for example, that he devotes 80 percent of his work day to reading.

8. Abandon the fixed salary

The site pointed out that the rich often work on their own account and determine the size of their own salaries. In this regard, Seabold says: "It is not that there are no people around the world working around the clock to get a salary, but most of the time this is the slowest path to prosperity, and is promoted as the most secure. Great people know that self-employment is faster." Path to wealth. "

As the global classes continue to create their businesses and build their wealth, ordinary people settle for fixed salaries and miss the opportunity to amass huge wealth.

"People guarantee themselves a life based on moderate financial income by staying in a job with modest and annual salaries," says Siebold.

9. Set goals and visualize achieving them

If you want to make more money, you should have a clear goal and then a specific plan for how to achieve that goal. Money will not appear on its own, but rather you must make it. In fact, the wealthy choose to commit to achieving wealth, which requires focus, courage, knowledge and much effort.

10. Start hanging out with the ones you love

The site pointed out that the millionaire Andrew Carnegie attributes all his fortunes to one principle and that is the mastermind. The idea here is to surround yourself with talented people who share your vision, since the alignment of many smart and creative minds is stronger than just one mind.

And since we become like the people we associate with, this is the reason why rich people tend to relate to rich people like them. For his part, Seibold explains that "dealing with people who are more successful than you is able to broaden your thinking and multiply your income. The truth is that the rich think differently from the middle class about money, and there is a lot to benefit by communicating with them."

11. Try to make a profit of $ 10 million, not $ 1 million

"The biggest single financial mistake I made is not thinking enough," Cardon says. "I encourage you to seek a profit of more than a million dollars. There is no shortage of money on this planet, but rather a shortage of people who think enough."