How to Be a Billionaire by 25 – Want to learn, want to know how to become a billionaire by 25? Or maybe you want to learn more about how to become a billionaire from zero? How about how to become a billionaire at 16 years of age?
I know I’m young (I haven’t even got my driving license yet!), but if you’re looking for tips on how to become a billionaire by 25 I can give you some useful advices about it! You see, it’s not always about finding ways to become a billionaire, but it’s also about finding ways to become billionaire from zero. And I think you can do that too!
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Entrepreneurship Can Lead to a Big Payday
Working and turning hours into dollars is nice, but it doesn’t always give you a big payday. All of the individuals we highlighted at the beginning of the article made it to $1 million by 25 by starting their own companies – and you can do that too.
The big thing to remember when starting your own business is to make sure that you’re providing value and solving a problem. There’s a lot of money to be made if you can solve a problem for people. You can also do it on nights and weekends, when you’re not in school.
But entrepreneurship is about working towards the big payday. It can be daunting not getting any money while you’re building your business. But, if you’re living at home or going to school, it may not matter that your business makes no money up front. If you want the big payday, you should focus on starting your own company, just like most of the young millionaires we’ve profiled have done.
See the best in every situation
When bad things happen, you can either see the best and stay positive, or let it get you down and distract you from your goals. Being positive is a choice, and it becomes a habit. As a property investor, I am always looking for lucrative investment opportunities. When the market crashes, most people become very negative towards the idea of investing and wait for it to boom.
This is not how millionaires act in a crash: They see the best and find the cheapest deals. In the same way, when it’s booming, negative people are skeptical that it won’t last, so they do nothing. I again see the opportunity and buy on an upward trend.
This is not just applicable for investments — it’s also the case when you see the best in people. Rich people become wealthy because they focus on solutions rather than problems. When you see the best in every situation, you usually get the best results.
Stop caring about the opinions of others
Most people spend their entire lives holding back on their dreams because they are afraid of being judged by other people. When I first started buying real estate and went full-time as a property entrepreneur, there were lots of old school friends and even family members who thought I was crazy. They would ask me why I didn’t have a “proper job” and warn me of all the risks associated with entrepreneurship.
I thought that once I started making good money, everybody would see the light and cheer me on. Sadly, even after proving my business successful, many friends still judged me and said I was now too “money minded.”
If your friends judge you, how much more will your enemies? In becoming a millionaire, I have had to evict tenants, fire employees and take business from my competition. This has resulted in people calling me far worse things than “money minded.” Sometimes you have to be tough in business. You will not make millions of pounds while trying to please everybody all of the time.
Diversify Income Streams
People who are looking to become rich can take a cue from stars who know how to diversify their income streams — like Camila Cabello. The 23-year-old singer got her start on “The X Factor” television show in 2012 as a member of the group Fifth Harmony, which she left to become a solo act in 2016.
Since becoming a solo act, Cabello has collaborated with other artists, released a No. 1 album, toured solo, done a modeling campaign for Guess and took a role in a film adaptation of “Cinderella.” According to Celebrity Net Worth, Cabello has a net worth of $14 million.
Liza Koshy, who cut her digital teeth on the now-extinct Vine, is another star who knows how to earn income from various ventures. She made Forbes’ 2019 30 under 30 list.
Koshy has two successful YouTube channels with millions of subscribers. She’s had her share of sponsored content opportunities and has been hired for commercial ads. She snagged a role in Hulu’s “Freakish” and played a part in Tyler Perry’s “Boo! A Madea Halloween” movie. Plus, Nickelodeon hired her as the face of its “Double Dare” reboot.
JoJo Siwa is another famous female who rakes in the money from many angles. This 17-year-old is known as a dancer, singer, reality television star, model and actress. Her net worth is $12 million, according to Celebrity Net Worth.
In addition to gaining income from her many talents, the teen’s YouTube channel has more than 10 million followers. She also has lucrative licensing deals with Nickelodeon and J.C. Penney.
Get Started In Your Career Early
The earlier you start making money, the more time you have to build your wealth. Even if you don’t know exactly what you want to do, the sooner you get going, the more time you have to grow your income.
These under-25 Hollywood actresses — and one model — have reached millionaire status by starting on their careers between the ages of 2 and 8.
Chloe Grace Moretz, age 23, got her start as a Hollywood actress in 2005 when she was around 8 years old. Moretz currently has a net worth of $12 million, according to Celebrity Net Worth.
Gigi Hadid, 25 years old, already has a net worth of $29 million. She started her modeling career at the tender age of 2 when she was discovered by fashion brand Guess.
Twenty-two-year-old Elle Fanning got her start making movies for the big screen at age 3. She currently has a net worth of $6 million.
Elle’s big sister, Dakota Fanning, age 26, has double the net worth of her little sis, at $12 million. Dakota got her start in movies in 2001, around age 7.
Love what you do
There is no quick way to become a millionaire; you have to put in the time and energy. When I started in real estate, I used to work over 100 hours per week, and some months, I would lose money. If I had not enjoyed the work, it would have been unbearable, but because I loved what I was doing, it did not even feel like I was working. I would spend every possible hour viewing properties, negotiating deals and transforming run-down buildings into beautiful homes for people.
As it so happens, this profession can be extremely lucrative, but I loved learning the ropes and immersing myself in the industry. I used other people’s money to do it, and the feeling of building my own empire was truly addictive.
I do not believe you can make millions without being addicted to your business and loving what you do. It is vital to choose a profession you are passionate about. Then, working will be a habitual joy, and you will not burn out trying to get rich.
Conclusion
Billionaires aren’t born rich people. They’re ordinary people like you and me, but they were persistent to achieve their goals and now they are at the top. If you have a billion dollars in your bank account, you can be a billionaire. But does being a billionaire mean being a millionaire with a billion dollars in the bank is useless? Not at all.