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How can I become a billionaire.
I’m 15, I love wrestling and I’m very kind and I love money and favorite color is blue. #money
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Aline’s Answer
First of all, why do want to become a billionaire? To become a billionaire, the best advice will come from those who have actually accomplished that goal. So you have to be creative and bold by reaching out those people who are billionaires. According to Forbes magazine, there are now 2,755 billionaires, 660 more than a year ago.
The rest of us are ordinary Janes and Joes who work hard to earn a decent salary to afford the lifestyle we choose. However, let me make a suggestion on a book written by a millionaire and you can see how his advice can help you get closer to your goal. The book is called "The Compound Effect" by Darren Hardy. I found the advice he gave in his book to be actionable and achievable. I hope this advice will be helpful to you and also a reminder to always come back to the question why? Why am I doing this, because the answer to that question should help you to keep balance between your pursuit and the other parts of your life. Thinking of the trade-offs and consequences of your choice. Best wishes and remember to find contentment in every phase of your life.
The rest of us are ordinary Janes and Joes who work hard to earn a decent salary to afford the lifestyle we choose. However, let me make a suggestion on a book written by a millionaire and you can see how his advice can help you get closer to your goal. The book is called "The Compound Effect" by Darren Hardy. I found the advice he gave in his book to be actionable and achievable. I hope this advice will be helpful to you and also a reminder to always come back to the question why? Why am I doing this, because the answer to that question should help you to keep balance between your pursuit and the other parts of your life. Thinking of the trade-offs and consequences of your choice. Best wishes and remember to find contentment in every phase of your life.
Updated
George’s Answer
Start by becoming a millionaire...
Start by becoming a hundred-thousandaire...
Start by becoming a ten-thousandaire...
Open a savings account. START TODAY
If you want to be skinny, do what skinny people do. If you want to be wealthy, do what wealthy people do.
Here are some of the things the wealthy do CONSISTENTLY.
Be a "life-long learner". Most all of the wealthy are readers! .. Generally at the pace of 5 books a week.
Start BUDGETING.
Start SAVING. Always save something from income.
Develop a PLAN. Learn about setting 'SMARTER" goals.
GET TO WORK Do you know how to eat an elephant? ....one bite at a time!
EDUCATION (not necessarily 'college') is essential. Again, READ!
Learn about INVESTING, starting with 'compounding of interest'.
Develop healthy RELATIONSHIPS. We don't become successful at anything alone.
Find what you're PASSIONTE about, and find a way to "monetize' it.
Grow the MINDSET of a business owner - not an employee.
A large majority of millionaires are first-generation wealthy. They earned it, they invested it, they grew it. It WAS NOT money that was given to them.
"The best time to plant a tree was 20 years ago. The second best time is today." ~Chinese Proverb
Suggested reading: "The Richest Man in Babylon" ~George Classon
Start by becoming a hundred-thousandaire...
Start by becoming a ten-thousandaire...
Open a savings account. START TODAY
If you want to be skinny, do what skinny people do. If you want to be wealthy, do what wealthy people do.
Here are some of the things the wealthy do CONSISTENTLY.
Be a "life-long learner". Most all of the wealthy are readers! .. Generally at the pace of 5 books a week.
Start BUDGETING.
Start SAVING. Always save something from income.
Develop a PLAN. Learn about setting 'SMARTER" goals.
GET TO WORK Do you know how to eat an elephant? ....one bite at a time!
EDUCATION (not necessarily 'college') is essential. Again, READ!
Learn about INVESTING, starting with 'compounding of interest'.
Develop healthy RELATIONSHIPS. We don't become successful at anything alone.
Find what you're PASSIONTE about, and find a way to "monetize' it.
Grow the MINDSET of a business owner - not an employee.
A large majority of millionaires are first-generation wealthy. They earned it, they invested it, they grew it. It WAS NOT money that was given to them.
"The best time to plant a tree was 20 years ago. The second best time is today." ~Chinese Proverb
George recommends the following next steps:
Tammy Laframboise
Present pension and financial planning information to members of a pension
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Tammy’s Answer
Growing wealth is often a byproduct of business activities. And most billionaires are not primarily motivated by money. Their motivations are excitement, desire to change things they see, desire to learn and be creative. You will need inspiration to find your passion, no your obsession. You will need dedication and hard work and lots of luck.
A few pointers:
1. Time. Amassing any sort of wealth generally takes time. Be patient for the end result but take steps every single day toward your goal.
2. Education is not just at learning institutions. That route is best taken through engineering and business. But remember that Bill Gates and Mark Zuckerburg both dropped out of Harvard. In terms of education they learned by doing, creating and putting in long hours.
3. Hard work and determination are the cornerstones of success. This is easier to sustain if you pursue ideas that fascinate and compel you. But it is not a guarantee of success, just the minimum requirement.
4. Dream big. Bring something to the world that is unique, compelling and has the ability to change lives and then create a new business.
5. Failure is your friend. It is the only way to hone into that unique, compelling idea.
6. Business success is built one customer at a time. "A customer is king" attitude should be the driving force behind your business ideas and permeate all decisions.
7. Build a great team to support your vision. This starts even before you have a business. Advisors, partners and mentors can steer your success, tell you the truth and keep you grounded and focused.
One more happy thought. Shoot for the moon and you'll land in the stars. Good luck finding your passion!
A few pointers:
1. Time. Amassing any sort of wealth generally takes time. Be patient for the end result but take steps every single day toward your goal.
2. Education is not just at learning institutions. That route is best taken through engineering and business. But remember that Bill Gates and Mark Zuckerburg both dropped out of Harvard. In terms of education they learned by doing, creating and putting in long hours.
3. Hard work and determination are the cornerstones of success. This is easier to sustain if you pursue ideas that fascinate and compel you. But it is not a guarantee of success, just the minimum requirement.
4. Dream big. Bring something to the world that is unique, compelling and has the ability to change lives and then create a new business.
5. Failure is your friend. It is the only way to hone into that unique, compelling idea.
6. Business success is built one customer at a time. "A customer is king" attitude should be the driving force behind your business ideas and permeate all decisions.
7. Build a great team to support your vision. This starts even before you have a business. Advisors, partners and mentors can steer your success, tell you the truth and keep you grounded and focused.
One more happy thought. Shoot for the moon and you'll land in the stars. Good luck finding your passion!
Updated
Fabian’s Answer
Being a billionaire is an ambitious goal but one can certainly work towards it! There is no harm is starting young in terms of learning about money and investing. There are numerous book lists online on teaching young adults on investing. One of my personal favorite is a book called "The Millionaire Next Door' by Thomas J. Stanley.
One word of advice is that you are young and even though you want to begin the effect of investing early to enjoy the effects of compounding, you should err on the side of caution in terms of preparation before putting your money to work. Not only should you put in the hard work in terms of learning and building up the required knowledge yourself, but also do reach out to people who can mentor you along the way.
All the best!
One word of advice is that you are young and even though you want to begin the effect of investing early to enjoy the effects of compounding, you should err on the side of caution in terms of preparation before putting your money to work. Not only should you put in the hard work in terms of learning and building up the required knowledge yourself, but also do reach out to people who can mentor you along the way.
All the best!