Is it possible to become rich before 30 when you're starting from scratch? Let me show you the ways.
Every day, I hear people say they don't have enough time to become rich or get financially free over the next 10 or 20 years. But chances are you do have some extra time on your hands, and if done correctly, you can become rich before 30 or any of your target age or in less than 10 years using these techniques I'm going to share with you today. As an added bonus for reading this, I'll even go one step further and share with you some great ways you can become financially free in less than 5 years by using these same techniques.
Getting rich is about making wise choices and that includes what your'e doing today. If what you're doing today isn't helping you become rich, then it's time to make a change. It does require work, but if you’re truly interested in becoming rich then this should be easy for you to do.
Ways to Become Rich Before 30
If you're looking for ways to become rich before 30 or as quickly as possible, then you’re going to need to become business minded. In the time it takes many people to become a doctor or lawyer and make serious money, you can actually become a self-made millionaire just by being smart with how you spend your time and money today.
How do I know this? I've done it before on several occasions and continue to do so each month up to the present. You may be asking yourself how is this possible, you say? The secret is learning what methods are working right now and picking those opportunities that give the biggest returns on your investment while spending the least amount of time doing them.
First Things First: List Your Skills Left To Right
Now before we get started looking at real ways to become rich before 30, let's do a little reality check on your current skill set. You're going to need some basic skills in at least one area of interest and several other areas if you want any chance at becoming rich in this lifetime.
When writing out your list, place the most important skills or aptitudes first and the ones that require the least amount of time needed down on your list. In order for you to become rich before 30 by using these techniques, you're going to need some ability or experience in certain markets or industries. These are what I'll refer to as “core” business areas because without them you have no chance of succeeding with these techniques. The marketplaces I'm referring to include: real estate investing, travel (both luxury and bargain travel), food, clothing, or importing. Yes that's right. Importing is a great way to become rich quickly if you know how to do it properly!
There are others I may list below, but these core marketplaces listed above will most likely become very important in your quest for financial freedom. If any of these areas interest you and require some hands on experience before investing thousands of dollars into them, then start learning everything you can about them now through books, the Internet or even mentors before going all-in with any type of business venture. In fact, using this method will allow you become rich much quicker because you’re not wasting time building a full blown business from scratch that fails later due to lack of knowledge needed after you become rich.
What I'm referring to is learning as much about a market or industry before investing in it. That way when you become successful at making money in that area, you'll know how to do it again and build on that success. Anyone can become an expert in any specific field if they just take the time to study what's required of them to become successful. Just think of all the world class athletes out there today!
Buying and Selling Real Estate
Real estate investing is another great way to become a millionaire quickly, but like anything, you need lots of money upfront just to get started. You can either buy up several “fixer uppers” or use your credit score to purchase a small apartment building that needs repairs after purchasing it from a bank who has foreclosed on the property. Anyone who invests in real estate knows how profitable this market has become since 2006, but like anything else, you'll need some experience before diving all-in so do as many “for fun” deals as possible first becoming an expert at finding and completing real estate deals.
You'll need some experience in both buying and selling properties before giving your go signal into this market, because following the advice in this article can become very profitable when done correctly. However, it can also become a total failure when you lack the proper knowledge to do it right. Just remember that any investment or business venture will become much more profitable if done with specific knowledge related directly to what your investing in. Treat real estate as your “main” business field while doing everything else listed below on the side for extra income. You'll be able to create a small fortune over time due to successful investments alone!
Buying and Selling Online Businesses or Websites
I know I'm putting two marketplaces in here, but they're both mainly the same thing. The biggest mistake I see new investors making is investing all of their money into one business because they become overly confident and greedy by thinking that their become an instant millionaire just like me! By doing this you're putting all your eggs in one basket which could become a total loss if you choose to sell it or close it down later without another source of income already built up going forward.
If you know what you’re doing with buying websites, then there are website buy and sell platforms like www.flippa.com which allows people to buy and sell domains with complete privacy using bank transfers or paying directly person-to-person using PayPal or Google Checkout. This can become a very profitable market once you become successful in also becoming an expert in finding profitable websites to buy and sell.
The bottom line is that you’re going to need multiple income streams to become rich before 30, since doing everything on this list could cost a ton of money and even financial ruin if something major went wrong along the way! So choose wisely and start with what makes most sense for yourself. Selling relevant services through affiliate programs has been working very well for me since. But if you’re an expert at selling something else like your own products and services, then just become the best at it!
The thing that you need to remember most is that when it’s all said and done, success comes from excellent execution of a well thought out plan with daily action steps! The only way to become rich before 30 years old is to first become committed to going after what you want and keep putting one foot in front of the other until the end result is achieved on a consistent basis . Never give up because anything worth having takes effort, hard work and commitment along with plenty of dedication. Best of luck!
Read the Entire Making Money Series
- How to Make Ends Meet On a Low Income
- Small Investments that Will Make You a Lot of Money
- Five Easy Money Hacks that Nobody Thinks of – that will Work Today
- How to Make Small Investments to Get Rich!
- How to Invest Money the RIGHT way
About the Author
Joseph Hogue is a financial expert and investment analyst. After serving in the Marine Corps, he started his career investing in real estate before becoming an investment analyst for some of the largest private investors. He's appeared on Bloomberg and on CNBC as an investment expert and has published ten books in personal finance. Now he helps investors reach their financial goals and invest in the stock market with some of the same advice he used when working for the rich.