Advertising
Advertising

5 Steps You Must Take in Your Early 20s to Become a Millionaire

5 Steps You Must Take in Your Early 20s to Become a Millionaire

Most of us work to earn money and fulfill our desires. For you, that may include owning a huge villa with a dozen of foreign cars parked outside. While most of us have dreams like these, there are very few people that are actually able to fulfill these. Becoming a millionaire is not easy. You have to put in a lot of hard work while also having lady luck on your side. And it’s definitely an accomplishment that is easier said than done.

If you are thinking of living a luxurious life in your 50s, don’t think so far ahead. Things have changed now and there are loads of millionaires under 30. What’s the point of getting what you want when you cannot even enjoy all of its benefits?

If you wish to be rich, you need to start today. And to help you in this regard, provided below are five simple tips:

1. Put Social Life Aside, Study Now

We know, your early twenties is a time to rejoice and celebrate life in a careless, somewhat reckless manner. However, since being a millionaire is one of your immediate goals, you will need to muster up the courage and patience to put your social life on hold, so to speak, and focus on how you want your career to shape up.

Advertising

The drive and energy you have at this age can be put to much better use than just partying and “hanging out with your compadres”. Study with relentless focus, work on your professional skills, and hone your talents. All of these will be key driving factors when you start developing your very own product or service.

But now comes the question of self-made moguls like Bill Gates and Steve Jobs, who dropped out of college but managed to become huge names. As stated above, studying is not only about your course books, it is about knowing your talents and polishing them. These millionaires and billionaires, for example, did not drop out of college to party. They did it because they had a vision and they needed time to make it come true.

If you have an idea, you need to choose it today. If your college isn’t teaching you what you wish to learn, find other ways to do it. Put socializing aside and focus on refining your talents as it will pave the way to becoming a millionaire.

2. Boring Niches Can Be Very Profitable

When people dream of becoming successful millionaires, they tend to focus too much on widely known or accepted niches. This is a mistake.

Advertising

Fact: It can take eons to become a millionaire by going down the traditional doctor, lawyer, or banker career route. Many of these job descriptions also have earning caps, which are difficult to push through.

Here’s an idea: Ditch preconceived notions. Working or launching a business in a common niche does not guarantee you millionaire status. And you certainly don’t need to spend several years in school or work mainstream jobs to become one. Tap into a relatively untapped niche, offer something unique, and work hard towards your goals. This is how any sort of a business succeeds.

Mark Zuckerberg once said, “People don’t care about what you say, they care about what you build.” So do it and show it to the world.

3. Start Investing Today, It’s A Shortcut

While it is true that there are certain shortcuts to earning big money, the truth is, not all of them work for everyone. However, one of the easiest ways is to start investing today. Stock exchange is a big game and if you can play it right, you may be able to turn your modest account into a great fortune overnight.

Advertising

Warren Buffett, for example, started to invest at the age of 11, and today he is one of the richest men in the world. There are other examples, like Nicolas Darvas, who explained his story in his book, How I Made $2,000,000 in The Stock Market.

Today, you have more opportunities than ever before. There are several options to invest in other than stocks. You can take a forex course or invest in bitcoins, which is considered one of the safest investment options. If you’re not comfortable trading yourself, there are a lot of forex signal services that allow you to copy the trades of experienced, profitable traders.

4. A Resilient Mind Is Key

The difference between mediocrity and epic success is being able to work with unwavering focus and productivity for at least a few hours at a time. It’s during these long stretches that you get work done and discover your own drive and limits.

Fast track your abilities. Be aware of the distractions that are keeping you from performing in tip-top shape, and especially during moments when you start to lose focus. Take your daily activities apart each night and feverishly look for opportunities to improve.

Advertising

Now, we know most of this sounds like basic common sense talk, but applying it practically can really boost your productivity, and you’re going to need that in your arsenal big time if you’re looking to hit that million dollar mark early in life.

5. Failure Is Perfectly Normal – Use It As A Stepping Stone

Irrespective of what line of work you’ve chosen for yourself, you’ll be dealing with plenty of disappointments along the way. It’s perfectly normal and what separates the winners from the losers is how you perceive them.

Drew Houston, Dropbox CEO, said, “Don’t worry about failure, you only have to be right once”. This explains the need to never give up and continue to walk until you achieve your dreams.

As an investor, for instance, you might lose a lot of trading stocks for the first couple of months, but when you get the hang of it, you’ll know what was holding you back. Accept these failures and use them to better yourself in every way imaginable.

These are just a few steps you can take to ensure you reach that millionaire status early in life. Don’t give up, keep your eye on the prize, and learn to make some sacrifices early on to make your dreams come true.

More by this author

Ahmed Raza

CEO of Samurais.co

5 Things Our Parents Expect From Us During Old Age 4 Powerful Strategies to Increase Conversions of Your Ecommerce Business 5 Ways Technology Can Help You Balance School and Life 4 Ways Businesses Can Stand out on Pinterest 3 Ways You Can Make Your Dad Feel Special This Christmas

Trending in Entrepreneur

1 How to Start a Successful Business and Increase Your Profits 2 12 Foolproof Tips for Entrepreneurs to Be Successful in a New Venture 3 How to Start an Online Business That Will Grow and Succeed 4 Feel like Giving Up? 16 Way to Help Entrepreneurs Stay Motivated 5 15 Stellar Startup Business Ideas for the Burgeoning Entrepreneur

Read Next

Advertising
Advertising

Last Updated on November 5, 2018

20 Best Places to Work for a Great Career in 2018

20 Best Places to Work for a Great Career in 2018

Looking for a job? There’s no doubt to the fact you will want to work with a company that appreciates you for who you are.

Well, good news. The labor market today is one that has peened up with more opportunities for advancement and personal employee improvement. This is partly due to the fact that a lot of companies have been made to understand the value of their biggest assets: the employees.

To wit, here’s a list of companies- across a wide array of industries- that have been able to develop working environments that are healthy and accommodating to workers.

Take a look at these 20 best place to work for a great career:

1. Salesforce, San Francisco, California,

    Salesforce is in the information technology business and the company ranks highest due to their commitment to learning and innovation. They are ready to try new things and everyone with a new idea is always welcome to share it at the company. The company has also been known to exhibit an exceptional approach to alignment.

    Find out more about careers in Salesforce

    2. Wegmans Food Markets Inc.,Rochester, New York

      Based in Rochester, New York, employees have been known to enjoy a sense of purpose from working here. The company has been able to achieve an optimal level of engagement across all working tiers and they’ve been able to achieve great things together. They even do deliveries.

      Find out more about careers in Wegmans

      3. Ultimate Software, Weston, Florida

        Employees get amazing benefits here but that’s not the only reason why this place is so awesome to work. Whenever there is a need or a death of an Ultipeep or any of other family members, the company shows love and support like no other.

        Find out more about careers in Ultimate Software

        Advertising

        4.The Boston Consulting Group, Inc., Boston, Massachusetts

          Development is at the center of anything that goes on here. The business is about people and employees are the company’s biggest asset. Employees are able to challenge the status and also leave impacts on clients.

          Find out more about careers in The Boston Consulting Group

          5. Edward Jones, St. Louis, Missouri

            Edward Jones is admired for their ability to acknowledge history without being mired down by it. The company builds on a solid foundation but there is also a level of flexibility that allows for innovation.

            Find out more about careers in Edward Jones

            6. Kimpton Hotels and Restaurants, San Francisco, California

              Kimpton is a trendsetter in the hospitality industry. The company always strives to try something different and that perspective is welcomed there at all times. Enjoy the weekends with luxury rooms, conformable mattress, furnished and well dressed service staff. A great opportunity for job seekers.

              Find out more about careers in Kimpton Hotels and Restaurants

              7. Workday, Pleasanton, California

                Newbies will find no issues with feeling welcome and at home here as this has always been a core culture component of the IT giant. Everyone is treated like family and this fosters a sense of oneness.

                Find out more about careers in Workday

                8. Genentech, South San Francisco, California

                Advertising

                  Here, employees are encouraged to be themselves. There is a feeling of care, safety, and acceptance that you get here that you can’t get at many firms. The development of an all-inclusive environment has always been foundational.

                  Find out more about careers in Genetech

                  9. Deloitte, New York, New York

                    Deloitte is one of the biggest professional service providers in the world, noted for their focus on constant learning, development and improvement. They invest in their employees and are concerned about their well being.

                    Find out more about careers in Deloitte

                    10. Baird, Milwaukee, Wisconsin

                      Baird is a financial services provide that is known for adopting a “no asshole policy’ which guides the way people relate with and respect each other, regardless of their position on the company’s hierarchy.

                      Find out more about careers in Baird

                      11. Quicken Loans, Detroit, Michigan

                        At Quicken Loans, the views and opinions of everyone are respected and heard. The organization is revered for the amount of investment they put in their team members and everyone looks for ways to grow and be better.

                        Find out more about careers in Quicken Loans

                        12. Capital One, Mclean, Florida

                          Capital One has adopted a culture that encourages employees to take risks and try new things. They foster a healthy work-life balance and associates are challenged to live better lives.

                          Advertising

                          Find out more about careers in Capital One

                          13. Cooley LLP, Palo Alto, California

                            Cooley LLP is a law firm known for their ability to care about the company culture and being able to develop a working environment that is empowering and fun. Cooley is known to go for the best when it comes to their employees, regardless of the occasion.

                            Find out more about careers in Cooley LLP

                            14. Southern Ohio Medical Center, Portsmouth, Ohio

                              The medical center has been known for their propensity to delegate so much to their employees, thereby providing them with the ability to grow and learn on the job. In the end, you get a workplace that is all-engaging and super fun.

                              Find out more about careers in Southern Ohio Medical Center

                              15. American Express, New York, New York

                                American Express is a firm that celebrates wins, no matter how small. Everyone is made to share the same attitude towards service and the people they are to serve, thereby making people care about what they do.

                                Find out more about careers in American Express

                                16. Adobe Systems Inc., San Jose, California

                                  The culture at Adobe Systems is one that encourages employees to develop their own ideas and get a strong viewpoint. As opposed to encouraging competition, work-life balance is fostered everywhere here.

                                  Find out more about careers in Adobe Systems Inc.

                                  Advertising

                                  17. The Cheesecake Factory Inc., Calabasas, California

                                    The Cheesecake Factory rewards dedication and hard work. Promotions come pretty easy, and there is always space for guidance to develop your experience and skills.

                                    Find out more about careers in The Cheesecake Factory Inc.

                                    18. Sap America, Newtown Square, Pennsylvania

                                      If you’re looking for a new career path, SAP might be the best bet for you. The company is adept at recognizing value and transferable skills. And you can always look for a new path while maintaining your employment.

                                      Find out more about careers in Sap America

                                      19. NVIDIA Corporation, Santa Clara, California

                                        NVIDIA is known for looking after even the smallest of things. With even a “pets allowed” policy this company accepts you for who you are, and helps you to work within your personality. Advancement is also fostered, and you are able to collaborate effectively.

                                        Find out more about careers in NVIDIA

                                        20. KPMG LLP, New York, New York

                                          Communication and progressive collaboration are the foundation of this company’s workforce treatment. Regardless of the level you are, someone is always at the ready to help and the company rewards extra effort with gratitude.

                                          Find out more about careers in KPMG LLP

                                          All in all, it’s safe to say that you will be able to find somewhere to apply your skills (whatever they are) that is all inclusive and highly accommodative. Companies today are being made to understand how much they can get when they treat their employees right and this has opened the door to an encouraging work environment for all.

                                          Happy job hunting!

                                          Featured photo credit: Pexels via pexels.com

                                          Read Next