Your Financial Future

Every kid has had that dream of being a multi-millionaire but they don’t dream about becoming a multi-millionaire.

Okay, I’ll admit even I sometimes doubt my ability to become wealthy because of how far away it seems. When you think millionaire does the image of vacation, travel, yachts, and mansions appear? Well unfortunately millionaires of those sorts are the 2% of people who had all the connections and resources. I won’t say they didn’t put effort in, of course not, but not lots of people can achieve that level of wealth in one generation.

Building and scaling a diverse portfolio is one of the most important steps to becoming financially independent. But your mindset and lifestyle will be the ones to decide whether you have the ability to do so.

How To Plan To Be a Millionaire

Start young. Get in that mindset of saving and being frugal because that’s how the common millionaires have achieved their wealth. I suggest reading The Millionaire Next Door by Thomas J. Stanley. He did years of research on how you’re typical “middle-class” neighbors actually have a net worth of millions.

In my mind the formula of wealth is this: Income > Expenses = Higher Savings therefore higher net worth and capital. It’s so simple, but I can hear your skeptic thoughts, “then why isn’t everyone rich?” good question.

The Odds Are Against You

On paper it sounds too good to be true. That’s because technically it is. There are so many factors that effect how you look at money. The majority of people I know see money as something to spend and use as soon as they get it, something that is so rare and unreachable. But it’s not that’s the thing, money will be everywhere and it always has been since the dawn of trading and the creation of currency. You can always earn money wherever you are, but people are just taught that they can’t.

If you weren’t raised in a household that teaches a mindset that appreciates and uses money in a way to benefit you long-term, then you’ll have to re-wire how you think. Teach yourself frugality and the power of money as soon as you can. Don’t be scared of money or think of it as evil. It’s a tool it has no conscious or autonomy, but you do. You can make your money work for you instead of the opposite. Use it wisely and your future self will thank you.

How Do You Start Planning?

What I have done is taught myself as much as possible about everything. From real estate to stocks I want to learn every opportunity I do and will have. You can do the same. Read books, listen to podcasts, connect to people who can teach you what you want to learn. Think about what you want to do and start thinking of how you would achieve it.

I believe anyone can be a millionaire you just have to put in some elbow grease. Planning things that may be 3, 5, or even 10 years in the future seems meticulous but it will keep you motivated to achieve success. I have to remind myself why I work when I get tired, why I spend time learning when I’m exhausted. But I always get back on track.

Overall

Your future is the next minute, hour, week, month, and year. It doesn’t matter how you start it what matters is when. If you don’t start planning now when will you? Everyone makes mistakes but you can learn and grow from them so don’t be scared to take risks. Be as ambitious as possible and start your financial future now.