mebeing
For becoming successful, we always need inspiration. Grant is one such example that can motivate us for our millionaire goals. After graduating from the University of Chicago, Grant had nothing in his account and was living with his parents which made him think he never wanted to feel like this ever again.
He took a start with a digital marketing job that made him earn $50,000 a year but he realized that it wasn’t enough for him to save enough money that can make him a millionaire. Therefore he found the solution in starting a side job of building websites. The first website he created was for a law firm which because of which he earned $300. Getting a good start, the law firm recommended him to another firm and in six months he went up with his charging from $300 to $5,000.
Within a year he was able to sell his first project for $100,000 which gave him clear vision where he wanted to reach. He left his full time job to focus on his growing consulting business. With continuous effort, within five year he was able to turn his $2.26 in his account into $1 million. Following are the five steps he followed in his life to hit the seven figures
Get paid for your worth:
According to Grant the number one thing to earning the $1 million mark is to get paid according to your worth. Once completely understanding your worth asks for a raise. Ask to be paid for your capability and do not fear for being rejected. When you yourself have a good understanding for your worth, nobody will make you undervalue your services.
Invest your money:
The best way to increase your income is to invest your earned income in a good manner. You can ask your HR company and ask them to start depositing 20% of your income into an investment account. In this way, your money gets invested into a mixture of index funds automatically.
Streams of income:
For increasing your wealth, you need to focus on increasing your revenue streams. Start a side hustle and make money aside from your full time job. Invest 100% of the profits warned from your part time employment and build wealth instead of enjoying on everyday life.
Understand where you make the investment:
Invest in something you are familiar with. Grant was interested in investing for technical companies. Therefore he allocated 20% of his investment capital towards tech companies such as Google, Apple, or Amazon.
Monitor your net worth:
No matter where you start from, always monitor your net worth. Monitoring your net worth motivate you to increase upon your earning and track spending in a better way
Via: CNBC
