10 Steps To Becoming A Millionaire By 30

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. Here are the ten steps that 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.

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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 became a millionaire. Be known for your work ethic, not the trinkets you buy.

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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). Still to this day, at least twice a year I am broke because I always invest my surpluses into ventures I cannot access.

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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 I 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.

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5. Treat Money Like a Jealous Lover

Millions wish for financial freedom, and only those who 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.

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6. Money Doesn’t Sleep

Money doesn’t know about clocks, schedules, or holidays and you shouldn’t, either. Money loves people that have great work ethic.
When I was 26 years old, I was in retail, and the store I worked in 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.

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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 okay.

Bill Gates said to a group of college grads, “It’s not your fault if you were born poor; it is your fault if you stay poor.”

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8. Get a Millionaire Mentor

Most of us are brought up middle class or poor and then hold ourselves to the limits and ideas of that group. I have been studying millionaires in order to duplicate what they did.

Get your own personal millionaire mentor and study him or her. Most rich people are extremely generous with their knowledge and their resources.

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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 ten 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.

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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 who 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.
Let me know when you get there.
Be great. Nothing else pays.
Photo credit: Paramount Pictures

If you need help with these or any ideas on my website, please call Derek P. Blieding the Columbus Financial & Success Coach, and personal financial planning to help you meet all of your financial needs.   http://www.columbusfinancialcoaching.com/  or call me or text 614-282-3162.