True, $1 million doesn't go as far as it might used to, but that doesn't mean that we all don't hope to be able to mutter the words, "I'm a f*cking millionaire!" one day.
And because seeing at least seven digits in your bank account isn't easy, Grant Cardone—a sales expert, a New York Times best-selling author of five books and the radio show host of The Cardone Zone—contributed a piece to Entrepreneur.com about the things that we should all be doing to make millions by the time we're 30.
1. Follow The Money
- The first step is to focus on increasing your income in increments and repeating that. My income was $3,000 a month and nine years later it was $20,000 a month.
2. Don't Show Off—Show Up!
- I didn’t buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income. I was still driving a Toyota Camry when I had become a millionaire.
3. Save To Invest, Don't Save To Save
- The only reason to save money is to invest it. Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency.
4. Avoid Debt That Doesn't Pay You
- I borrowed money for a car only because I knew it could increase my income. Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.
5. Treat Money Like A Jealous Lover
- Millions wish for financial freedom, but only those that make it a priority have millions. To get rich and stay rich you will have to make it a priority. Money is like a jealous lover. Ignore it and it will ignore you, or worse, it will leave you for someone who makes it a priority.
6. Money Doesn't Sleep
- Money doesn’t know about clocks, schedules or holidays, and you shouldn’t either. Money loves people that have a great work ethic...Never try to be the smartest or luckiest person—just make sure you outwork everyone.
7. Get Your Money To Do The Heavy Lifting
- Investing is the Holy Grail in becoming a millionaire and you should make more money off your investments than your work. If you don’t have surplus money you won’t make investments...Investing is the only reason to do the other steps, and your money must work for you and do your heavy lifting.
8. Shoot For $10 Million, Not $1 Million
- The single biggest financial mistake I’ve made was not thinking big enough. I encourage you to go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough.
Sound advice from Cardone, who also says to avoid get-rich-quick schemes, be ethical and to never give up in order to accomplish the financial goals you dream.
To see the entire article and get more tips from Grant Cardone, head on over to Entrepreneur.com.