MILLIONAIRE in 1 Year? It's MORE Possible Than You Think!

here's the truth no one tells you the life you that you've always dreamed the wealth the freedom the impact and influence on Society all of these huge dreams this life this extraordinary way of living it's not limited to a Selected Few it's not not out of your reach it's real it's totally possible and it's waiting for you every millionaire in the present and the past has started with one thing a decision a decision to stop waiting to stop doubting and to start building they weren't born extraordinary they became extraordinary by ref refusing to settle for

an average life they took time to devise a possible plan and Powerful strategies and stick to them by pushing through their fears that one extraordinary plan and those thoroughly planned strategies are essential to start remove the mindset of it takes luck from your brain insert the mindset of I am going to create my own luck and watch you become a millionaire as quickly as speed of light this video outlines a one-year plan backed by proven strategies to Achieve Financial Freedom so without wasting any time let's get started in the words of Henry Ford whether you

think you can or you think you can't you're right Henry Ford this is the power of belief what you believe shapes your actions and your actions shape your whole journey it is completely up to you what you choose to believe if you want to become a millionaire the initial thing you have to do is to change your mindset cultivate a millionaire mindset by self-confidence and self-belief make a plan and trust it by sticking to it in his book the psychology of money Morgan howel talks about the importance of cultivating a millionaire mindset he explores the

idea that one's beliefs about money shape one's Financial reality howel argues that financial success isn't solely about knowledge or strategy it's about mindset and behavior according to him your beliefs about money shaped by your upbringing experiences and environment dictate how you earn spend save and invest for example a person who is raised in an environment where Financial Security is given more value than investment that person will fear the idea of investing investment he will work only for Financial Security he will save some percentage of money but will never invest and thus will never create assets

this safe and coward approach will never allow him to get the financial Independence thus it is almost impossible for him to become a millionaire now that you know how much power your beliefs about money hold it's time to teach you how to identify your limiting beliefs and what approach you need to develop to overcome them if you have beliefs like I'll never be rich because I haven't inherited money or I'll Never Be A Millionaire because I didn't start early or because I'm not lucky enough then it's time to change them and learn a better way

it's never too late you can identify your beliefs by listening to your selft talk whether consciously or subconsciously by examining your patterns like the concept of investment the concept of starting your own business identify them and be Fearless reframe your thinking convert I need to be financially secure to I need to invest or I need to start my own business look for evidence study the examples of self-made Millionaires and listen closely to what they say adopt those habits those beliefs and strategies in the next portion we are going to discuss about the millionaires who inherited

nothing instead they reframed their financial belief system and overcame challenges in the words of Socrates the only true wisdom is in knowing you know nothing developing a growth mindset is absolutely essential and one of the initial steps to take if you are on a journey to become a millionaire however it isn't as easy as it seems it requires habits of continuous learning and resilience it requires viewing challenges as learning tools overcoming them learning from mist stakes and constant efforts until you succeed the first pillar of wealth creation is generating income from multiple sources be it

business side jobs and Investments multiple incomes provide long-term wealth creation starting your own business can offer you high returns and a sustainable income create demand of your product make it a necessity and lifestyle this will help attract more and more customers Investments are the key to multiply your money learning where and how to invest learning all the possible risks and overcoming them learning the right businesses and stocks to invest is quite challenging all of this must be addressed and you need to be educated properly part-time jobs and side hustles are important in making some extra

cash they can be graphic designing content writing video editing or any freelance work side hustles provide flexibility and additional income streams with minimal initial investment acquiring High income skills is essential in today's fast evolving economy these skills enable you to earn extra money become more marketable and secure Financial Independence the skills could range from coding digital marketing and Entrepreneurship focus on building assets that generate passive income by focusing on building assets that generate passive income Robert kosaki in his book Rich Dad Poor Dad encourages readers to take control of their financial future so instead of

relying on a paycheck or salary kosaki advocates for building assets which help creating multiple streams of passive income that allow you to become financially independent this could be in the form of rental income from properties dividends from stocks or royalties from intellectual property by building these multiple passive income streams you can work less while your money works for [Music] you a key component of wise investment is diversification which is intended to minimize risk and maximize rewards investors can lessen the effect of a bad performing asset on their entire portfolio by by Distributing their assets over

other asset types including stocks bonds real estate and crypto currencies the ability to withstand the changes in the value of an asset is known as risk tolerance while investors with low risk tolerance prefer stable less volatile assets even if they result in lower returns those with high risk tolerance are more ready to tolerate Market volatility in exchange for the Poss possibility of larger returns since it guarantees that your investing decisions are in line with your financial requirements knowing your risk tolerance is essential for maintaining your commitment during Market fluctuations the results of the research show

that longer investment Horizons reduce the chance of suffering negative returns for example data from 1872 to 2018 indicates that the range of returns Narrows considerably over longer periods yet one-year investment periods can be extremely unpredictable in particular annual returns during a 10year period varied from minus 1% to 177% while over a 15-year period the range narrowed to 4% to 14% this pattern emphasizes how long-term investing has a lower risk let's talk about the famous 503020 rule this is a simple but extremely effective effective Financial framework of how the income should be managed according to this

rule 50% of your income should go to the needs for example housing food groceries and needed Transportation the other 30% should be reserved for once this includes entertainment activities travel and hobbies and the remaining 20% is the income which should be reserved for savings and Investments and this is the portion of income which can make or break you if you invest wisely you can multiply your Returns the 503020 rule is pretty simple yet effective method which ensures discipline spending and saving enough for investment cutting unnecessary expenses is the only way to save money for Investments

and spending it on buying valuable assets which will prove to be fundamental in the long run the first first step is to identify all the expenses which are unnecessary this includes all the things which won't have any effect on your way of living and you can live without them simple changes such as buying generic brands or setting spending limits can make a noticeable difference in your budget without sacrificing your quality of life the first step should be setting clearly defined possible and Achi achievable goals because when you know your targets your goals and what you

are working for this gives you Clarity of mind and it becomes quite easier to get closer to your goals the most technique which helps you setting goals in the SM goals technique it consists of specific the goals should be specific and clear measurable it describes the progress tracking and how it helps in maximizing efficiency achievable make sure that your targets are totally realistic and achievable considering the resources you have relevant the goals should be relevant and aligned with broader objectives time bound set a deadline to create urgency thus allowing you to work with more and

more concentration you need to take small and manageable steps in the start for example dividing your working into daily tasks and monthly segments ments first you need to dedicate small chunks of time daily to achieve weekly goals examples include practicing skills for 30 minutes reading Financial articles or preparing meals to save money now build a one-year road map and then divide it into three 4month segments in this period you have to understand your abilities skills financial position and goals after for that develop consistent habits and start building networks in this period you have to track

your progress understand your shortcomings and work on them make the much needed adjustments and learn to adapt to situations if needed reflect on your performance analyze your finances in details and make plans for the next year set Higher Goals based on your achievements maintaining accountability and monitoring your progress are essential to reaching your objectives spreadsheets like Google spreadsheets or Microsoft Excel sheets budgeting applications like mint and pocket guard progress trackers like habitica and notion these tools guarantee that you stay on course give you clear insights into your progress and assist in identifying areas for growth

understand that Milestones whether big or small must be celebrated this approach gives you a sense of Victory and it increases your motivation to achieve more this approach gives you a sense of self-belief that your goals are totally possible and achievable Collins the author of the simple path to wealth achieved Financial Freedom through disciplined saving and investing he focused on saving a major portion of his income and investing in lowcost funds and this is the approach you should Implement by consistently doing this and avoiding debt he allowed his wealth to grow over time benefiting from compound

interest Ralph Lauren's rise from being born into a financial struggling middleclass family to one of the richest persons of his time has to studied despite the difficulties Lauren had a strong love for design and fashion and aspired to produce something original he had a number of jobs After High School where he learned a lot about the world of fashion then he designed a collection of neck ties under the name Polo it attracted a lot of customers however it was far from being a successful worldwide brand he struggled to secure financial banking and a huge number

of people doubted his choice of designers they almost called his brand a flop later he launched Men's Wear collection which gained significant popularity this was a breakthrough in his career this popularity gave HK further confidence in himself and a year later he launched a Ralph Lauren polo shirt it became a worldwide success after that his brand expanded quickly and became a huge success Ralph's journey is a powerful reminder that no matter what your background is if you have the right mindset you can overcome any obstacle and get closer to your dream of being a millionaire

in the words of Steve Jobs the only way to do great work is to love what you do in the words of Lily Tomlin the road to success is always under construction in the words of Tony Robbins the secret to wealth is simple find a way to do more for others than anyone else does become more valuable do more give more be more serve more make a clear plan stick to it and consistently analyze your performance track your progress make changes if needed and start again and again this journey requires dedication discipline and a Relentless

pursuit of Excellence are you ready to Embark thank you for watching if you found this video inspiring and helpful give us a thumbs up and share it with the people who are financially stable and want to embark on a journey to becoming a millionaire in one year