Most people, if not all, want to have, not only greener pastures, but also a richer life. The life of the richest person on this planet has inspired many people to become rich. But for some, getting rich is like an elusive dream. For most religious people, getting rich is just a materialistic goal. For millennials, it’s a must to help the poor and needy. Therefore, for those who develop a growth mindset in old age, given a second chance to turn back the clock, they also want to be rich. That is why most young people aim to be rich by the time they reach 30 years of age. So, here are some tips on getting rich before reaching the age of 30.
Urgency is Key
The old adage goes something like this, “the best time to plant a tree was 20 years ago, but the second best time to plant it again is now.” Nobody gets rich overnight or when they’re born unless you are the son or daughter, inheritor to Bill Gates. Any major accomplishment, including getting rich, takes quite a lot of time. This requires a heavy investment of time, talent, ability and other resources. Therefore, getting rich before the age of thirty means that you must start your journey as soon as possible while you’re still young.
Set Big Goals and Plan before Thirty
Being rich is multidimensional. It’s not just about how much money you have deposited in your bank account or how many properties you own. It starts with building a mindset that will drive you and one of them is setting goals. You must determine what goals related to getting rich you should achieve. These goals are so powerful that they can set your mood and energy to accomplish those goals. Just ensure that this goal will help you achieve wealth.
Setting goals alone is not enough, make sure to formulate a concrete plan to accomplish your goals. This includes the budget that must be prepared, the procedures that must be followed, possible obstacles, and other things that may be involved. Wealthy people at all times plan ahead to avoid chaos when things do not go according to plan. It’s much easier to make adjustments when everything is planned out. But you must be flexible.
Develop Yourself
One thing the young rich have in common is that they’ve invested so much in personal development. This has to do with education (formal or informal), exposure, hard work and the rest that can add value to them. That means they work hard to be the best at what they’re good at. For example, most athletes create wealth for themselves by being the best at their sport. Likewise, tech geeks like Bill Gates, Steve Jobs, Mark Zuckerberg, and Jack Ma have amassed fortunes stemming from their interests.
Be Financially Wise
In addition, getting rich before the age of thirty requires you to have income from multiple sources. You cannot get rich by just working as an employee because you are only limited by your salary. In other words, have another stream of income like opening a new business. The business is complicated at first but will ultimately create passive income. In addition to businesses, you can invest money to invest in numerous portfolios such as mutual funds, stock market, foreign exchange market and cryptocurrency market. Make sure to educate yourself first, weigh the pros and cons and invest only in legitimate companies. These ways not only work for money but make money work for you.
Also, other than earning money, find out how to spend wisely. Buy only the things you need and when you do, buy only high-quality things to avoid wastage purchases. Most people tend to be a shopaholic. Others tend to buy cheap products that break easily. So, spend wisely and avoid loans that can only lower your credit score.
Generalization
Getting rich is now within reach. There are many ways to create wealth. It starts with changing your mindset, working hard early and being financially wise. But what good is it for you to be rich if your neighbors die of poverty? Then, you must broaden your thinking. Getting rich is not only limited to accumulating wealth but also includes sharing your blessings.
