What are tips to becoming financially wealthy before the age of 30?
2006-11-19 00:40:19 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
READ read read! Every financial book you can. Then take away from them what will work for you best.
Take to heart the fact that it is not how much money you make but how much you keep and have that money make you more money.
Live well below your means, save save save and invest it all, only after doing you homework.
Buy, DO NOT RENT. Have roommates or tenants pay your mortgage so you can be saving and investing.
Quit smoking, gambling, & drinking, add that to your savings. Find othere areas where you can cut back.
Find someone who is where YOU want to be (MENTOR) and pay attention to what they are doing. With this being said, be careful for many whom you may think are well off are simply in a giant hole of debt. Your average rich person is NOT someone you can pick out on the street!
Limit time spent with those who do not have the same goals as you. Limit time spent with friends that spend foolishly or party well beyond anyones means.
Befriend people who are smarter than you for you have nothing to gain from idiots.
Pay cash for vehicles and other things. If you don't have the cash then YOU DON"T BUY. A lesson that will only make your life better.
Think of assets as "something that puts money IN your pocket" and think of liabilities as "something that takes from you pocket". Aquire assets NOT liabilities !! !! If you MUST buy things, why not buy things that make you money? !!
Start believing that YOU deserve to be financially independent rather than you deserve that new car. The car will only cost more and more money. Get over the urges to inpress people with "stuff" you have. Let them see you how ever they want and do not concern yourself with their thoughts. Live by : What people think of me is none of my business!!
I could go on but then I just as well write a book.... ha ha ha
Best Wishes on a bright financial future!!
2006-11-19 03:41:07 · answer #1 · answered by Kitty 6 · 0⤊ 0⤋
everybody answer the question. which was before age 30, not over your lifetime. Bottom line, to get rich quickly you must take great calculated risks.
Totally change all your focus.
1. Don't work for anybody. Only work with people.
2. Listen to everyone. But don't take their advice. Advice is often given without much thought.
3. Don't take no for an answer. Find out why something cannot be done, and find a way around it.
4. Set goals, write them down and do everything you can control to achieve them.
5. Fail
6. Try again
7. Repeat until dead or rich.
8. Now live your life.
2006-11-19 12:15:28 · answer #2 · answered by GoodTimesMakingMoney 2 · 0⤊ 0⤋
The tip is "Good Luck!!!" Its possible through smart investing, discipline, and a good source of income, but unlikely. Just don't be disappointed if you don't make that target - but I will not say to you not to do it. Don't let the nay sayers get you down and just remember to focus on your goal and keep what your doing legit or your maybe spending your 30's in jail. It can be done - but if you don't make it - that doesn't mean your a failure - your only a failure if let your failures get you down - stay focused.
Good Luck!!!
2006-11-19 08:45:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋
1 read the book think rich and grow rich
2- real estate start by managing rentals
3- buy a small house then go up
4- be a part of a net working I prefer http://www.shaklee.net/thehealthyway/distMain
its a stable co.
5- invest a little in stocks
6 main is a multiple stream of income
2006-11-19 09:01:21 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Save at least 30 per cent of your earning
It will be a great idea if you take exposure in equity either directly or through mutual fund
Discipline and focus Will help you reach there
2006-11-19 09:04:57 · answer #5 · answered by sendmail_niladri 1 · 0⤊ 0⤋
Either forex trading or an indexed annuity with your lotto winnings
2006-11-19 12:35:24 · answer #6 · answered by tom_nearhood 3 · 0⤊ 0⤋