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Millionaire by 30 - An Update



๐Ÿ’ธ At age 21, I embarked on a journey to become a millionaire by the age of 30. Why? Because Warren Buffett had the same goal but he only became a millionaire at age 32 (over $9 million in today's money). ๐™ˆ๐™ฎ ๐™œ๐™ค๐™–๐™ก ๐™ฃ๐™ค๐™ฌ ๐™ฃ๐™š๐™š๐™™๐™จ ๐™–๐™ฃ ๐™ช๐™ฅ๐™™๐™–๐™ฉ๐™š as I reached 26.5 years old and my net worth (about $50 000) and income just skyrocketed from the GameStop $GME profits and me becoming an Elite Popular Investor on eToro.


๐Ÿ™‚ If you follow my work, you probably want to make more money investing but I don't think that everybody needs to aim to become a millionaire, at least not at age 30. There's nothing wrong in becoming a millionaire at 65 or never. ๐˜ฟ๐™ค ๐™ฌ๐™๐™–๐™ฉ ๐™ฌ๐™ค๐™ง๐™ ๐™จ ๐™›๐™ค๐™ง ๐™ฎ๐™ค๐™ช ๐™–๐™ฃ๐™™ ๐™ฌ๐™๐™–๐™ฉ ๐™ข๐™–๐™ ๐™š๐™จ ๐™ฎ๐™ค๐™ช ๐™๐™–๐™ฅ๐™ฅ๐™ฎ. Now I don't really see becoming a millionaire as a goal but as a consequence of other goals.


๐Ÿ’ผ ๐˜พ๐™–๐™ฅ๐™ž๐™ฉ๐™–๐™ก ๐™ž๐™จ ๐™ข๐™ค๐™ง๐™š ๐™ž๐™ข๐™ฅ๐™ค๐™ง๐™ฉ๐™–๐™ฃ๐™ฉ ๐™ฉ๐™๐™–๐™ฃ ๐™ข๐™ค๐™ฃ๐™š๐™ฎ. John Pierpont Morgan (JPMorgan $JPM founder) died with a net worth of about $1.5 billion in today's money. That's very little compared to his contemporaries such as Andrew Carnegie or John D. Rockefeller but he had access to a lot of Capital, which allowed him to invest and grow several businesses and change the world.


๐Ÿค” ๐™ƒ๐™ค๐™ฌ ๐™™๐™ค ๐™„ ๐™—๐™š๐™˜๐™ค๐™ข๐™š ๐™– ๐™ข๐™ž๐™ก๐™ก๐™ž๐™ค๐™ฃ๐™–๐™ž๐™ง๐™š?

I would need to save $22 K a month, which is impossible. If I have average market returns of 10%, then I would need $18 K a month. My current returns are about 60%, let's assume I can keep it that high (very very hard to do), I would still need $7 K a month. It seems impossible to become a millionaire that fast just by investing.


๐Ÿ“บ My plan then is to be very frugal and to work on my businesses, eToro, YouTube and Teachable. ๐˜ผ๐™ก๐™ก ๐™ข๐™ฎ ๐™—๐™ช๐™จ๐™ž๐™ฃ๐™š๐™จ๐™จ๐™š๐™จ ๐™–๐™ง๐™š ๐™ž๐™ฃ๐™ซ๐™š๐™จ๐™ฉ๐™ข๐™š๐™ฃ๐™ฉ ๐™ง๐™š๐™ก๐™–๐™ฉ๐™š๐™™, because I'm good at it and I love it. What's good about these businesses is that the growth can be exponential with little additional Capex. For example, it took me 5 months to make the 150 lectures for my investing course for beginners but I can sell the same course to many people without any additional capex.


๐ŸŒŒ To become a millionaire, you can either sell cheap products to many people (example, like Facebook $FB ) or sell an expensive product to a few people (example, Bloomberg). Right now, I'm in the first category but eventually, I plan to start my own hedge fund so that I can ๐™ฅ๐™ช๐™ฉ ๐™– ๐™™๐™š๐™ฃ๐™ฉ ๐™ž๐™ฃ ๐™ฉ๐™๐™š ๐™ช๐™ฃ๐™ž๐™ซ๐™š๐™ง๐™จ๐™š.


Watch the full video on YouTube:

https://www.youtube.com/watch?v=2TuJBv49JsY&list=UUPO3uUyoXSaFWG-Ldq1mqEQ&index=2



๐Ÿ”ฌJoin my INVESTMENT RESEARCH PARTNERSHIP for all my analysis and research, along with a course for investing for beginners for free๐Ÿ”ฌ

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๐Ÿ“š New to investing? Here's my investing COURSE FOR BEGINNERS with over 150 lectures ๐Ÿ“š

https://ishfaaqpeerally.teachable.com/courses/enrolled/721696


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