NOT BUYING A HOME and SAVE while living with your parents is also the way to become a billionaire at 30!
Have you ever wondered how to become a billionaire in your twenties? This sounds impossible, especially since we are not “born from the finish line .”“. However, it is not necessarily a distant dream, as long as you work with a plan and discipline.
Here are 4 young people who have become millionaires (with about 23 billion dong) with their own financial strategies. With careful planning, patience, and smart savings, you can absolutely become a billionaire at a young age.
1. Melyssa Griffin: Reached 23 billion thanks to business expansion
Most of Griffin’s income comes from building an online business, selling courses, podcasts, etc. She started 9 years ago with a small blog. The content is mainly based on his main job as an English teacher in Japan.
After seeing many people starting to turn to full-time content creation, she decided to turn her blog into a business. At first, because her blog was a bit popular, Griffin decided to take advantage of that to open an online graphic design store on Etsy.
She created photo designs based on client request and sold it. However, she realized that, “Because this job requires so much time, I can only reach a few new customers per month. As a result, I cannot scale the business nor increase my income.”
So in 2015, she decided to change direction, focusing all of her energy on growing her blog and creating online courses. She has increased her blog traffic to over 75,000 people. She also uses Pinterest as a marketing medium.
Griffin is so good at using Pinterest that he decided to create his first online course on how bloggers and business owners market their products and services on the search platform. It was a resounding success. She made 572 million in the first month. By the third year of business, she has earned more than 23 billion dong in revenue.
2. Bryan Kuderna: Reached 23 billion VND by living with his parents and investing early
Bryan’s full-time job is as a financial advisor, starting consulting at the age of 21. At first, he took the initiative to call home to meet with potential customers to review their financial situation and advise them.
From clients with average assets, he has gradually worked with people with higher net worth. In addition to client fees, Kuderna earns additional income through its seminars and lectures.
His savings strategies also contributed to an 11-figure savings. After graduating from university, Kuderna started working and opened right away savings and investment accounts.
He also lived at home with his parents until the age of 25. This allows him to invest most of his income in the stock market and real estate, instead of covering living expenses. “The biggest asset I really buy is a car”he say.
3. Michelle Schroeder-Gardner: Earn 23 billion through part-time work
In addition to his main job as a financial analyst, Schroeder-Gardner started a blog called Making Sense of Cents.
At first, she just wanted to work on her blog in her spare time and use the revenue from advertising as a way to pay off her nearly 1 billion VND debt. Surprisingly, she finally paid off the debt in 7 short months. By the age of 27, Making Sense of Cents had turned into a full-time job, bringing in more than 23 billion VND in revenue.
She speaks, “I think it’s going to be a long time before we can get to $1 million.” But the blog’s affiliate marketing revenue has skyrocketed. As this way of making money became popular and more people wanted to know about it, Schroeder-Gardner created a course on affiliate marketing. Course sales combined with income from affiliate marketing helped her earn more than 34 billion dong in 2017.
4. Kristy Shen: Reached 23 billion dong by NOT buying a house
Kristy Shen got 23 billion at the age of 31, becoming the youngest “retiree” in Canada. She and her husband now spend most of their time traveling around the world. The biggest success secret to becoming a millionaire is… don’t buy a house.
Shen said, “I grew up believing that buying a home is something everyone does. But, when I dig into all of the potential costs of owning a home like maintenance fees, condos, property taxes, I’ve grown up believing that buying a home is something everyone can do. property and mortgage interest, it’s clear that houses make middle-income young people poorer instead of making them richer.”
She funnels her savings into low-cost index funds and exchange-traded funds (ETFs). She started saving 52% of her income in 2006. Then she kept increasing her savings every year until she saved 81% of her income in 2014.
That high savings rate combined with the return on investment has helped her achieve VND23 billion in savings in 2015. On average, she has saved around VND160 million per month for 8 and a half years in a row. Shen’s investment portfolio has now reached 27 billion thanks compounding. It has allowed her to “really make money” while traveling the world.
Photo: Synthesis
at Blogtuan.info – Source: Kenh14.Vn – Read the original article here
