So you want to be a multi-millionaire?
Like the law of gravity, the laws of money are universal and unchanging. The road to wealth building has highs and lows. They say that first million is the hardest. For you to become a millionaire, you must have a burning desire to make your financial dream a reality.
Some common reasons why most people never become millionaires include
1. Poor personal financial education.
2. Focusing too much on job security instead of investments & businesses.
3. Poor or lack of personal financial plan thus poor financial achievement.
4. Lack of seizing opportunities to make money.
5. The habit of looking for a magic way to get rich quick through gambling and participating in lottery.
I hope you are not a victim of the above. Since you are interested in your investment journey and become a millionaire. Here are simple strategies you can use and make your investment a success.
#1. Invest in your financial intelligence
Money without financial literacy is money soon gone.
- Financial literacy is vital for every wealth builder. The single most powerful asset you have is your mind and if trained well it can create enormous wealth for you.
To increase your financial IQ, you have to keep learning everyday. If you have read some personal financial books, that’s great! If you haven’t yet, I would recommend you to read these books ,they are good for a start.
a) Increase Your Financial IQ by Robert Kiyosaki
b)Think and Grow Rich by Napoleon Hill
c)The Richest Man In Babylon by George S Classon
d)Total Money Makeover by Dave Ramsey
e)The Millionaire FastLane by MJ DeMarco
The world keeps on advancing daily. Updating our knowledge in the Information Error is of great benefit. For instance, let’s say that you intend to invest in forex trading. You would first acquire adequate knowledge on the same. Thereafter transform the knowledge into financial equivalence through forex trading.
#2. Start Your Investment Journey as Early As Possible
Most successful investors start investing from a young age.
The blessings of this age include, more energy, time to learn new skills, build network, involve oneself in businesses and make financial plans to follow.
If all these are well utilized to achieve the financial goal, it can work wonders for you.
In my previous article on investing, you can learn some tips on how to start your investment journey as early as from your teens and 20’s. The earlier you start, the better.
#3. Come up with an investment plan
Do you have your investment plan?
Successful investing requires a well written plan that comprises of strategies, formulas and rules. It acts as a guideline from your current financial position, to what you intend to accumulate within a given time frame. If you still don’t have one it would be better if you utilize your financial advisor to come up with one.
#4. Stick To The Plan and remain focused
Don’t be a Jack of all trades.
- Great wealth is only accumulated from concentrated effort. An investing plan is of no benefit unless its strictly followed. Though adjustments may be made where necessary. No matter how slow or boring your plan look likes, trust the process. Making millions is a process which call for one to have patience.
#5. Utilize Your Financial Mentor
Do you have a financial mentor?
If you wonna be a multi-millionaire, trust me you need one. The internet has enabled us to access a variety of entrepreneurs and investors more than ever. My personal online financial mentor is Robert Kiyosaki. The author of Rich Dad Poor Dad and other series of books.
If you have a Professional Investor who can coach you closely. Count yourself among the lucky ones, so long as you are willing to learn. You can utilize your educator from scratch and make your financial goal a reality.
#6. Reinvest Exponentially
Becoming a successful investor needs a repetition of reinvestment from time to time. Every amount earned must be reinvested to make more money. That’s a sure way to generate more wealth.
In conclusion, lets recap on the tips you’ve just read so that you can apply them.
1.Invest in your financial intelligence
2.Start Your Investment journey as early as possible.
3.Come up with a financial plan.
4.Stick to the Plan and remain focused.
5.Utilize your financial mentor
you’ll be good to go.
All the best as you continue with your investment journey.