Everyone dreams of attaining wealth and for those who do not already have it, becoming a millionaire is the dream. Right now imagine what $1 million would do for you and your family? The things you could buy, foods you could eat, and places you could go. What a life you would have… for a little while. How long will a million dollars really last? When you factor in taxes, expenses, and maintaining your new inflated lifestyle? The answer is it wouldn’t last long. Look at lottery winners who make millions of dollars instantly, but after a year these individuals who over inflated their lives end up worse off than before. Wouldn’t it be more difficult to go from being a millionaire back to where you started… or even worse off?
Just like you I had that same dream of becoming a millionaire. When I was 15 years old, I decided to write down my life goals. I wrote down everything from own a Lamborghini to funding my grandchildren’s college education. One of my many goals was to make a million dollars by the age of 30. Over the years that goal never changed even as I added new ones and accomplished others. As I continued my education, formal and informal, the goal of making $1 million by the age of 30 grew more and more daunting. I had all the typical doubts. How am I going to get there? What job or jobs will pay me enough? I only have so much time left?
At the same time I was reading books on real estate investing, successful businessman, and people, who like me, wanted to be millionaires. One regret that seemed to be universal across these successful individuals was
Why didn’t I dream bigger? Rather than aiming for $1 million, I should have aimed for $10 or $20 million.
Their mindset was limiting. While ultimately they were successful in achieving millionaire status, I want to learn from their mistakes… If I want to make $1 million by the age of 30, why not aim for $10 million? Surely if I reach $10 million or even fall just short I’ll have made my initial goal of $1 million by 30. If I only focus on getting to $1 million, I might miss opportunities to exceed that number. It is a limiting goal to focus on the single million when in reality I want to scale beyond that first million. I was never planning on calling it quits when I hit $1 million, rather I’d just be getting started.
That is what this post is about. Rather than making a $1 million by the age of 30, I want to be making, yearly, $1 million by the age of 28 and $10 million by 30.
How am I going to do it you ask… that is the $10 million dollar question…