During summer 2015, I was wondering how I could get relevant external advices on how to become rich - let’s say 1 million dollar is a good start.
As many books describe it, one of the best way to achieve something big in a specific area is to learn from the people who master this very area.
Hence, I introduced the “Richest Blogger Single Advice” series in which I interview the Richest Bloggers out there.
I based my choice on the famous Net Worth Tracker from my US fellow J. Money.
Before the summer break, we were lucky to host my Swiss friend RetiredAt50 who provided us with Swiss Made financial advices that led to many Q/A in the comments section.
Today, it’s time for FrugalTrader from milliondollarjourney.com (East Coast Canadian!) to answer THE question: “How can I be rich like a millionaire as you managed to do it?”.
FrugalTrader single advice to build wealth
“The first step in becoming a millionaire is deciding to become a millionaire.
What I mean is that you need to set specific, time based goals.
Start with the bigger overall goal of a million dollar net worth by a specific date, but then break it up into smaller steps.
What will you need to do this year to make that bigger goal happen? This month? This week? Today?
After you’ve come up with your plan, make yourself accountable.
Write it down, tell someone! I used goal setting strategy to go from $200k net worth in 2006 to $1M in 2014 all while keeping myself accountable through my net worth updates.
(Disclaimer: This interview should be used for informational purposes only and should not replace the advice of a financial professional.)”
Note from MP: this specific and time based goal setting is one of the key to any big goal you set to yourself. Be it to become a millionaire, or to achieve financial indepedence by 40.
If you’re interested in this kind of method, I recently read a book called “The ONE Thing” that could help you get your goals up to the next level! I’m gonna publish the action points I took out of it, as I did with my last reading.
In two weeks : “Justin at Root of Good” interview
Next interview will be published by the end of September.
After Swiss and Canadian advices, we will head to North Carolina in the U.S to meet our fellow Justin who blogs at RootOfGood.com (and who already reached Financial Independence!!!)
Let’s see what his single recommendation will be!