Make A Lot of Money – The boomers’ generation was the richest in the history of the United States. After World war 2, the entire world was recovering from the deadliest war in history but the war didn’t take place on US soil, so the United States took the best advantage out of it and boosted its exports helping the rest of the world to recover and made a fortune in the process. That’s of the main reasons how the US dollar replaced the British pound as the world currency reserve. However, as time went by, boomers passed their wealth to generation X, who also enjoyed a pretty high standard of living. Homeownership was almost 70 percent.
But that prosperity didn’t last long because when it came to millennials, things went south. Despite their higher earnings, millennials still hold less wealth than previous generations did at their age. When boomers were roughly the same age as millennials are now, they owned about 21% of America’s wealth, compared to millennials’ 5% share today, according to recent Fed data. What do you think is the average millennial millionaire’s net worth? There are 618,000 millennial millionaires in the United States, and 93% of them have a net worth ranging from $1 to $2.49 million. Most of them probably live in states like California or New York where 1 or 2 million dollars net-worth doesn’t mean much since home prices, for example in California, are around a million dollars. If you are one of them, good for you, but if you are not, then don’t worry because we all attain wealth at a different age. It’s not like a step-by-step process that we all follow simultaneously as we did back in school, moving from one grade to another. That school mentality doesn’t work here. Some people make it when they are still teenagers, others when they are in their 50s or 60s.
It’s just a game that prolongs your entire life. But the question is, how do you know that you are on the right path? How do you know that you will become financially free in the future? The truth is that wealth is unpredictable. Success, in general, is unpredictable. Have you ever heard the statistics that 9 out of 10 startups fail for example? So even if you try launching your own business, you are not guaranteed to succeed. You will most probably fail.
However, what you can do is raise your chances of success by taking the right daily decisions that will accumulate over time. Just compare someone who saves, let’s say 20 percent of his income, and someone else who doesn’t save anything. Let’s assume everything stays the same. Over a few years, one will have the capital to invest or take a break to start a business while the other will have to keep his job because he won’t be able to pay the bills. So here are 5 signs that you will make a lot of money in the future.
5 Signs You Will Make A Lot of Money In The Future
1. You Know How To Tell Stories
If you take a look at the most successful companies in the world, they all have one thing in common – they know how to tell stories. You can build the most amazing product or service in the world, but if you do not know how to market it, then there is no use in it because people won’t give it a shot. Steve Jobs was the master of storytelling.
If you have watched his first iPhone presentation, you could see that. Steve begins the presentation by masterfully building suspense. A touchscreen iPod? A phone? An internet communicator? What is he up to? Then, even as the audience is starting to catch on, he lingers in suspense a bit longer before making the reveal: a three-in-one mobile phone that would change the world forever. The same applies to youtube. Most successful creators are the ones who know how to tell great stories. people enjoy it when it’s’ presented in an interesting story, that’s why we watch Netflix, go to movies and watch bloggers like Casey Neistat, who, by the way, stopped uploading videos for a while now.
2. You Are Always Curious
If you take a look at the history, you will find out that what makes people rich is the fact they solved a simple problem. What led them to think about these problems is their curiosity. When the internet first started, it was all over the place. The only way you could find something is by knowing the name of that website. If you didn’t know about Amazon, you would never be able to find it unless you heard about it in the news or someone would tell you.
So these two guys, Sergei Brin and Larry Page, who were Stanford students back then, asked themselves a simple question, why not make it easy to find things online? That’s how they invented Google. It wasn’t a complicated question, but their curiosity led them to ask the right questions, which led them to build a 2 trillion-dollar company.
Take the example of Snapchat. Back then, when Facebook was cool, if you would post something on Facebook, it would stay there forever unless you deleted it, but if you delete it, people would think that you are hiding something, something must be wrong that you deleted that picture or video or a statement. So Evan Spiegel decided to create a platform where you don’t have to explain to people why you deleted that picture because it’s going to be deleted automatically. He called it Snapchat. That’s where stories came from, and then facebook simply copied stories across all of its platforms like it always does.
3. You Admire Successful People
It’s easy to feel resentful when you are barely paying the bills while someone else is driving a Lambo or flying private. It’s easy to point fingers at ultra-wealthy people and mock them for spending so much money on things that are not important. But if we are going, to be honest, the vast majority of people would do the same if they were in their position.
It’s true that most wealthy people, if not all, have done shady things to be where they are now. But that’s the brutal truth of life.
Business is war, and war has no rules. You are either going to crash others, or you will be crashed! You are left with no other option! But if you constantly look down at these people thinking that you are better than them because you are morally a better human being. Then that mindset will always keep you where you are. I am not telling you to cheat people, but you shouldn’t look down on strong people who can make tough decisions. Sometimes when I go through youtube comments, people just mock for example Bezos for divorcing his wife and dating Lauren Sánchez. Here is the thing, he has got one life, let him enjoy what’s left of it, he has changed our lives for the better. Just imagine how life would be without amazon.
4. You Understand Accounting
When I graduated from high school, I had no idea what to do with my life like many of you. So I decided to major in accounting and finance because the only thing that interested me back then was the stock market. I can confidently tell you that understanding accounting is one of the key principles to succeed in business. Understanding accounting means understating capitalism. You learn how business works from a financial perspective. If you haven’t majored in accounting, don’t worry. There are some great courses online that can teach you everything you need to know in a few months, you don’t have to go back to school to learn all of that. We should be grateful that we live in such an age
5. You Have Mastered Your Emotions
Emotions play the most important part in our lives. Most of what we do is driven by our emotions. We become friends because we feel comfortable being around these people. We fall in love because he or she makes us feel special. When we look back at our lives, we remember the moments where we felt great. The problem is that when these emotions lead us to make horrible financial decisions when your emotions lead you to impulsive spendings. When you feel bad because your friend got a better car so you end up buying a car you can’t afford on credit just to impress your friends.
Especially if you’re starting a business. Business is like a rollercoaster and it’s an adventure. Every single day things can go down in an instant even though you have planned absolutely everything perfectly. You never know what is going to go wrong and you can’t just be mad at it because that is not going to help out. You can’t simply complain about it. You have to be able to accept the reality how it is. You have to learn how to accept chaos and not react to it emotionally and solve the problem right there at the moment.
The same goes for investing. When you buy stocks, they just go up and down every single moment. Sometimes, a crisis hits and everything goes down. You need to have the patience and self-control to not sell all of your stocks while this chaos goes away. The same applies when you’re dealing with people. People come from different backgrounds with different sets of skills and mindsets. It is easy to get angry at people, it is easy to hate people for who they are because they are just different. That is why it’s important to control your emotions if you want to build valuable connections to be able to build meaningful things.
RELATED: 10 Ways How To Make Money Fast