The “Beginning”: $78,574 (CoffeeForTheBuzz)

Welcome to MillionBy30.com. I have always had the dream of being a freelancer/entrepreneur who could travel the world while making more money than I could ever imagine pulling in my excruciatingly boring 9 to 5 gig. But now, I am finally taking action. I want to document every step of my journey from day 1 so that you can see what it really takes to be a millionaire by age 30. I’ll give frequent live updates of my net worth so you can track my progress with me and hopefully be inspired to track yours with the same near obsessiveness that I have about mine. I’ll talk about the various business ventures I’ve embarked on, my new ideas, and what is working along the way. I promise to post no less than once a week and hope to post even more as time goes on.

As it stands today, I am 24 years and 9 months old with a net worth of roughly $78K. Definitely not bad, but that only gives me about 5 years and 3 months to compile an additional $922K of net worth. Not impossible, but certainly not going to be easy. I’m constantly reading books about how to accumulate wealth and how to do it effectively. The 10x Rule by Grant Cardone. The 4 Hour Workweek by Tim Ferriss. Think and Grow Rich by Napoleon Hill. Rich 20 Something by Daniel DiPiazza. The list goes on and on. I love reading and I think there’s nothing better for your personal development and self-education. But 2 years into my full time job after graduating college, I don’t have much to show for my knowledge in the form of side income. I’ve made a bit of money on the side designing websites or selling minor informational products, but I’m beginning to realize that it’s time to cut the shit or I’ll never achieve the lifestyle that I dream about when I read these books. It’s time to act on the things I’ve learned. I hope that my journey inspires you to question the way you are living your life, to ferociously go after your goals, and to realize a level of wealth that you never before imagined impossible.

I am a huge proponent in writing down my goals on a dry erase board somewhere in my apartment where I will be able to see them every single day. Sure, some people might think you’re a little crazy if they see all of your goals written down, but I’ve found that nothing is more motivating than seeing that list everyday. For example, one of my major goals in life is to be a successful real estate investor. So I have a section on my board dedicated to real estate investing with a list of 3 goals related to that topic. I once had a mentor advise me to go about goal setting in a very specific manner. He told me to write down at least three goals per area of your life that you are interested in improving upon. The first goal should be something that certainly feels achievable, but that you haven’t been able to accomplish yet. The second goal should also be achievable, but a bit more difficult to achieve than the first goal (or something that cannot occur until you have achieved the first goal). The third goal should be a goal that feels impossible at the time, but will be more manageable to go after in the future. Let’s take a look at how this model of goal setting works with respect to my real estate investing dream:

  1. Buy a Multi-Family Property: This is something I have never done before, but I have done a ton of research on and have saved up the necessary money from working my 9 to 5 in order to be in a place where I am able to do so (in a partnership). If all goes well, I will be closing on my first investment property on June 23, 2017 with two business partners. This is a goal that is not currently in reach, but will be soon.
  2. Force Appreciation on My Investment by $25K: This is pretty clearly a goal that I can’t achieve until I have purchased my first property, but is still one that will be attainable once I have done so.
  3. Buy a 2nd Multi-Family Property by June 23, 2018: This is a goal that feels next to impossible right now, but will likely feel more and more attainable as I gain experience and am able to cross off the two goals that are above on my list.

Once you are able to cross off your first goal, the 2nd and 3rd items on your list of goals become your 1st and 2nd. It is then important to come up with a new 3rd goal that stretches the limits of what you previously imagined possible. This method of setting goals for yourself will always keep you pushing yourself to the limits and will allow you to achieve more than you ever dreamed was possible as long as you put in the work.

Let’s look at one more example of this type of goal setting as it relates to my goal to be a Millionaire by 30. In this case, I am going to set 4 goals that are related in order to illustrate that this doesn’t need to be just a 3 step process:

  1. Make $1,000 outside of my Full Time Job: This is pretty self explanatory. Something I have not done before, but certainly not something that is impossible to do. If I really wanted to, I could start washing people’s cars on the weekends and get to this point.
  2. Make $1,000 in a month (outside of my Full Time Job): This gets quite a bit tougher. This means that I will need to find a way to consistently provide value to people in a timely manner. Seems tough, but still in the realm of possibility after making my first $1,000.
  3. Make $5,000 in a month (and quit my full time job): This is the type of goal that feels like a long shot right now. It almost feels impossible based on the current state my life is in. But it’s not. And once I achieve goals 1 and 2, it will be inevitable. Achieving this goal would allow me to chase my dreams of traveling the world while working and being a true entrepreneur. And it will send me well on my way to my major goal of:
  4. Have a net worth of $1M by age 30: Of course there will be plenty of steps between 3 and 4, but I believe it’s extremely important to have written down your most major goals at all times. Let’s say I achieve goals 1 and 2, and am working on achieving goal 3. Nothing says I can’t make a new goal 2 to fall in between making $5,000 in a month and having a net worth of $1M by age 30. Maybe my more achievable goal will be to make $10,000 in a month, and I can keep my more distant goal of $1M net worth on the horizon.

There are plenty of ways to structure your goals, but I find that this method is the best way to keep myself focused because it allows you to break your real goals and dreams down into something much smaller and real.

In a future post, I’ll list out all of the other goals I have made for myself and eventually hope to dedicate a page on this website to tracking the goals that I have made for myself. Hopefully this will be exciting and inspiring for your to follow along and implement in your own search for success outside of the rat race.

If you’re like me and you can’t stand the thought of living your whole life doing the same thing day in and day out, then I’m excited to have you follow my journey and hope to help you achieve the same type of success that I am looking to achieve for myself.

Posted by CoffeeForTheBuzz