The 7 principles to become a millionaire in your twenties

7 lessons to become a millionaire by thirty, it's not too good to be true.

Fancy being a millionaire? Would you like to find out how to become a millionaire in 7 steps? Then read on. Money is one of the most loaded topics around. We hate money, we love money, we obsess over money, we crave money, we bad-mouth money; it is a surprise we can even mention it above a whisper.

Most dream of being flush, a reality where money doesn’t even need to be considered and to have plenty of time to enjoy that money and to make matters worse, you envision this scenario at retirement. Money does not make you rich. The rich have a different mentality and when done correctly, you won’t have to wait until you are older. You can get it right now, before you hit that next milestone. Here are the truths you need to adopt to become wealthy while young.

Ideas demand action. We only use 10% of our brains, how fascinating. It is so easy to dream about your ideas and then come up with all the reasons why they won’t work or argue that entrepreneurship is too risky. Ideas are valuable and you have an open window to make them come to life. Ideas have a shelf date though, don’t let them expire.

Embrace failure. There is no such thing as failure, you just didn’t get the outcome you first desired. In fact, most successful entrepreneurs have only made progress once their businesses have failed, take Bill Gates and Mark Zuckerberg for instance. Steven Spielberg was rejected twice by USC’s prestigious film school, in her lifetime Emily Dickinson published fewer than a dozen of her 1,800 poems, Vera Wang failed to make the U.S Olympic figure-skating team and Oprah was fired for being too “emotionally involved” with the stories being reported.

Keep learning. You can never learn enough. There is always a new piece of information being developed. As soon as you take a step back and decide not to “study” anymore, you will become complacent and as a result, your work will become stagnant. In order for you to grow, you have to invest in learning and commit to new skills. Learn a language, read an autobiography, pick up a new magazine. There is a whole load of business books right here on Amazon.

Being humble is powerful. Be kind to everyone because they will be the building blocks to your success. As you would have heard, it isn’t what you know but who you know. Accept the wisdom of others and be open to considering outside perspectives and views.

Condition your mind for success. You have to start seeing opportunity wherever possible. You need to be open to the Universe sending you positive signs and accepting them as your truth. It will take resistance, tolerance and a lot of hard work but with enough dedication and patience you would have already started forging the path to becoming a millionaire.

Risk it all and then risk it some more. The rich take risks, they see every risk as a calculated gamble, even when faced with the possibility of loss. You have to be able to put all your cards on the table, take momentous, ground-breaking financial risks as well. You have to play the game in order to win. This is crucial when younger because you will have more time to make up for any losses as well. Learn more on taking risks thanks to our financial expert here.

Change, constantly. There is always a common theme among the world’s most successful entrepreneurs and their companies. Look at how much Instagram and Twitter have changed since first starting out. You have to update your platform and yourself regularly, do not be scared of a reinvention. Adapt to circumstances as they change and always keep your long-term goals in mind.

Author: Scarlett Victoria Clark

Scarlett Victoria Clark is Editor-in-Chief of Scriptoeris and a multi-lingual journalist. She has also written for Cosmopolitan and Harper’s Bazaar, when not writing she enjoys travelling and shopping for (more) heels.

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