Wednesday, 10 July 2013

Becoming a Millionaire at an Early Age


Posted by Amy :) 

Experts and financial gurus have given their own views and thoughts about becoming rich and wealthy for ages and while some became rich by using those theories a majority couldn't make it to the top. It is because becoming rich greatly depends on several factors which includes your expertise in a particular field, your decision making skills, your understanding of money and how it grows, your patience, and finally your fate. It is seen that a majority of wealthy people (accept the inheritance) became rich through a single or through all of the above mentioned factors collectively.














In the modern times where were we are surrounded with economic crisis and inflation, becoming rich isn't easy and therefore only a few among us becomes vastly wealthy. But even though becoming a billionaire is a dream that appears distant for the time being, crossing the million dollar margin isn't much tough and by following some easy techniques and procedures you can become a millionaire by the time you hit 30. Here in this article we are trying cover the easy and effective ways which you can implement and become a millionaire at an early age.


Understand the Value of Time: Time is a nonrenewable resource and if used inappropriately it gets lost forever. Therefore you must understand the worth of time if you wish to become rich at an early age. Start designing your career from high school and adopt a particular field in which you have the potential of becoming successful. Earn good grades in school and college exams and invest your time in learning new things rather than wasting it.

Become an expert: It will be easy for you to amplify your net worth if you become an expert in a particular field. You can gain expertise in software or marketing and start your professional career with a decent salary. However it is important to know that if you don’t earn high grades in school you cannot apply for engineering or medical studies when you enter in college. And again you shouldn't just learn and gain experience but try to become an expert in the field you wish to make a career in. If you are an expert in let’s say marketing than you will be at the top of the working class and companies will hire you as a boss rather than just an employee and the salary they will offer you will be much higher than normal.

Invest assets lying idly: If you own assets that are lying idly you can invest them and earn returns. Money lying idly can be used for buying stocks, real estate, gold, bonds, etc. That way you can stimulate the growth of your wealth and a majority of rich people did the same for increasing their net worth.

Be an inventor: Start working on new ideas that has the potential to sell. Study the lives of inventors of the current times like Mark Zuckerberg and Steve Jobs and understand how they became wealthy by developing new ideas that became popular because of their applicability and usefulness in the daily lives of common man.

Test your luck: Last but not the least, you can obviously test your luck and become a millionaire overnight like Justin Bieber. If you have talents like singing, dancing, anchoring, acting, painting, etc. you can use them for your benefit. You can start learning acting, go for music classes, start writing stories or screenplays, etc. Basically you can try your luck in the entertainment industry and who knows after a year or two you will finally become rich as well as popular.

Author Bio: I am William a finance blogger, freelancer and copyright editor from NY. Check out my site at economicrisis.com