How To Make Your First Billion Before 30?
Making a huge sum of money within a stipulated age is something, which every human being on this planet dreams and aspires to do. But at the same time, it’s not easy to accumulate such wealth. The only way out to have a billion dollar within the age of 30 years is being an entrepreneur. Entrepreneurship with smarter ideas in capturing consumer and market place can earn huge profits and in turn make you a billionaire. Being a billionaire is more than having a bunch of zeroes.
Investing capital may be new to some, but it is not a barrier to becoming a billionaire. Working up from having nothing to living in the lap of luxury is the classic dream. To become a billionaire, create opportunities, invest wisely and retain wealth. Here's a theory of how to become a billionaire.
1. Create Opportunities
Normally, billionaires don't happen by accident. Be a billionaire by studying interest rates, tax brackets and dividends. Take finance classes online or at a university. Read books about investing. Read about successful billionaires; Warren Buffett, Bill Gates or Jon Huntsman, Sr. Be wise with money to amass more.
It takes money to make money. Set aside a specific amount of money from each paycheck and put it in a savings account, to collect interest and use for future investments. Decide what percentage of earnings to spare - as little as $20 per paycheck will make a difference over three or four years. Invest money you can afford to lose in a high-risk investment.
Available from financial institutions, Individual Retirement Account (IRA) are customized financial plans, set up to save for the future. To save a billion dollars, start saving as soon as possible. Interest accrues on savings. Estimate how much money to save over five years. Decide the best way to use money, whether it's investing, starting a business or allowing money to collect interest.
A common way to make money is investing in real estate. Property may gain in value over years, and may provide a good return on investment. Investments can be flipped, rented, or developed. Beware of investing during an artificially inflated market, and make sure the monthly mortgage is easily affordable.
Starting your own business or buying into one can be a solid way to make money. Create or choose a company that offers a product or service that you would buy yourself, and put time and money toward improving it. Investing in green energy and computer technology may be a good plan for the future. These businesses are projected to grow over the next decades, so investing now may be a smart investment.
The stock market may be a good place to increase wealth. Watch the markets carefully before buying and pay attention to which stocks are successful. Be informed to make smart purchases. Bonds are interest certificates issued by government agencies, like the Treasury, which offers no risk of default.
The government controls the printing presses and can print whatever money is required to cover the principal, so these are relatively safe investments and a good way to diversify your investments.
3. Maintaining Wealth
Money is as good as the advice received. After accumulating a considerable amount of wealth, nobody wants to spend time huddled in front of a monitor watching stocks change by fractions of a percentage. You're going to want to be out living life. Good, trustworthy financial advisors and brokers will work to keep your accounts swelling with excess funds.
Don't keep money in one place. Diversify your portfolio and invest in stocks, real estate, mutual funds, bonds, and other investments recommended by brokers to modify risk.
The Internet is full of penny stock schemes and get-rich-quick hokum that preys upon the ignorant and seduces gullible people into making bad financial decisions. Do the research and commit to a lifetime of investing and making money. When in doubt, be conservative with investments. Diversifying money wisely, letting interest accrue and riding fluctuating markets will be a smart decision in the long run.
To be a billionaire, act like one. Mingle with moneyed and cultured people, pick up advice and knowledge from the experienced. Cultivate interests in fine art, fine dining, and travel. Consider buying a yacht and other standard trappings of the wealthy that are unaffordable.
Its sheer hard and smart work to become a billionaire & at the same time it is tougher to retain the status of billionaire when you are within 30 years of age.
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