All get rich quick plans are illegal
32-year-old millionaire explains the simple reason young people don't get rich
To become a millionaire is the dream of many people. But how one comes to such great wealth remains hidden to most of the people.
Grant Sabatier, a 32-year-old entrepreneur from the United States, explained to the US magazine "Money" how anyone can become a millionaire - apparently it's easier than you think.
If you want to become a millionaire, you really have to want it
Apparently the first mistake is that many young people simply fail to realize their potential. “A lot of people say they want it, but they don't really want it,” says Sabatier. In his opinion, many young people cannot bear the burden of running a business and give up too soon.
For Sabatier, starting a business means full focus and hard work. He invested up to 100 hours a week in his company for several years, which meant that he missed many opportunities to see his friends or go on vacation. His advice: You have to want it more than anything to be a millionaire.
While he was still working full-time at another company, he earned $ 500 from part-time jobs and $ 50,000 from the sale of a website. His recommendation is therefore to start with as many extra jobs as possible in order to ultimately find a financial favorite and rely on it.
Investments are an opportunity for the million
From the book "Your Money or Your Life" by Vicki Robin, the 32-year-old learned that when you work, you exchange large parts of your life for money. "That amazed me and I immediately changed my mind," he said in an interview. He began to value his own time a lot more, trying to make as much money as possible with the time he had.
In order not only to amass money, but to increase it, investments are necessary. He always tries to invest 60 to 80 percent of his income. But this lifestyle also brings new burdens with it, as you give yourself little access to your money and, above all, get rich by spending as little money as possible.
Also read: A millionaire explains: This is the easiest way to get rich - but most people don't
The chances are good for the “digital natives”, because right now in the digital age, for example through online work, you can get rich from anywhere, according to the millionaire. The fact that such a life also has its downsides is the price a millionaire has to pay.
As Elon Musk said, “I think it's very difficult to start a business and it's painful. A friend of mine describes how it is to found a startup: It's like eating a glass and staring into the abyss. If you are really attached to it, then you should only do that, but for no other reason. "
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