Become a Millionaire by Age 30 With This One Tip
Becoming a millionaire by age 30 may sound like fodder for gimmicky entrepreneurship books or a new "get rich quick!" scheme floating around the internet. But an analysis of the shared experiences and personality traits of our nation's best and brightest can actually whittle wealth down to a science.
Thanks to Business Insider's Kathleen Elkins, we're one step closer to doing so. Elkins recently shared bits of advice from a few lucky unicorns to hit the seven-figure jackpot by or before age 30, and the end result reads like an inspirational road map. One tidbit in particular that resonated with us? Ditch the steady paycheck. Although this may sound counterintuitive, almost all of the tips on Elkins's list were contingent upon striking out on your own and opting for the road less travelled.
"It's not that there aren't world-class performers who punch a time clock for a paycheck, but for most, this is the slowest path to prosperity, promoted as the safest," said Steve Siebold, a self-made millionaire who once studied over 1200 of the world's wealthiest people. "The great ones know [that] self-employment is the fastest road to wealth. The masses almost guarantee themselves a life of financial mediocrity by staying in a job with a modest salary and yearly pay raises."
Perhaps the largest upside of being your own boss is having a certain level of control over your income, including the number of places it's coming from. Coincidentally, this is what author Thomas C. Corley offers as his own bit of advice: "Three streams of income seems to be the magic number for self-made millionaires," said Corley, who conducted a five-year study on self-made millionaires for his book, Rich Habits. "The more income streams you can create in life, the most secure your financial house [will] be."
What's your tip for career success? Share your advice in the comments below.