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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.

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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.

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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.

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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.

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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.

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Ahmed Raza

CEO of Samurais.co

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Last Updated on May 22, 2019

50 Great People To Follow On LinkedIn, No Matter Your Industry

50 Great People To Follow On LinkedIn, No Matter Your Industry

LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

Job Search Experts

You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

3. Dr. Marla Gottschalk will help you make an impact in a new job.

4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

Management Experts

They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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Productivity Experts

By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

Marketing Experts

14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

Personal Branding Experts

Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

Here are some personal branding experts from LinkedIn to improve your own brand.

27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

Other Notable Experts to Follow

29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

47. Rita J. King connects science, technology and business.

48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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