A Millionaire’s Six Simple Steps to Financial Independence

If you follow me, you may know that I’m in my twenties, generating money, traveling the world, trying out new hustles, and learning from professionals.

I mostly write on technology, finance, and investing. And I enjoy speaking with famous people to hear about their accomplishments. Whenever I attempt to converse with a professional, they basically open their lives in front of me.

One such remarkable personality is from Gujarat, India, and operates over 15 enterprises, some of which are offline. And, for the most part, he tries to live in his village and engage in agricultural pursuits.

Recently, I went to his hometown just 12 days ago to learn more about him, his achievements, and how to attain financial freedom.

And his response is as follows…

Step 1: Attempt to learn a skill

I began assisting my family when I was seven years old since we had a farm. Later, I went to Mumbai when I was 13 years old to improve my education and make some money.

There was no such education available at the time. My father, who comes from a Gujrati family, has always pushed me to start a company. So, at the age of 14, I tried to make money and keep it with me.

Starting a company was simple since there was no competition; anybody could do it. I started working in the clothes industry when I was 15 years old. And at the age of 17, I launched a modest clothes factory using the expertise and money that I had.

At the same time, I used to sell wholesale goods and make additional money.

Well, at that time, you don’t need enough money. But today’s scenario is a little bit different.

So, attempt to master a talent; it might be anything from technology to sales or marketing. You’re good to go if you want to be a doctor or a government employee.

However, please study a talent that will assist you in earning money.

Step 2: Make money from the skill you’ve mastered

So you now have a talent that allows you to earn money, enjoy your life, and save some out of it.

Well, the majority of the world’s population is not wealthy, and I was one of them. So the straightforward approach is to make money, gain skills, and then try to turn that into a business.

The work offers a lot more rewards; it may take some time, but it is well worth it.

In my twenties, people don’t have to invest millions to start a business, but now the time changed. And if you don’t have money, you are out of the race.

Your business is dependent on two factors: money and patience (do not mention hard work because every business needs it). Even better, don’t list your services or products because they will change over time.

Step 3: Create A Business

Please do not limit your life to a work and expect to get promoted year after year. Instead, try to make something out of it.

I mean, try to build a business out of the money you’ll make. It doesn’t matter if it’s offline or online; make an attempt. Don’t overthink it; simply begin, and don’t expect to make any money in the first six months.

I had only worked and honed my expertise from the age of 14 to the age of 17. And most of the time, when I need counsel, I consult with my father. Well, I can trust him since he is the one person who cares about my success.

Try to study more about it, master it, and so on if you have enough time throughout your working days. You might also consider starting a company part-time.

However, please attempt to start a business.

Step 4: Investing

You might dismiss my business idea as ineffective. You may argue that not everyone is capable of starting a business.

My reaction will be, “It depends on you.” If you want to, you can do it; otherwise, you may stay where you are.

Leave it aside.

So we’ve arrived at step 4, which determines your income increase over time. Well, I come from a Gujarati family that enjoys taking chances. So I’m basically trying to turn it into a new business. Because I can manage it, trust it, and build it.

The entire procedure is dependent on me. If everything goes well, it is because of me, and if everything fails, it is also because of me.

Unlike stocks, crypto requires you to put your confidence in other firms. It appears to be a bit riskier, in my opinion. Even now, most individuals are losing money by speculating in Crypto and Stocks.

Since I have a lot of money, I have invested in stocks and cryptocurrency. And it is entirely up to you whether you invest your money or turn it into a company.

Step 5: Create something that provides value

Every one of us, rich, poor, middle class, or government, wants to make money.

The desire to make money, live a good life, and achieve financial independence has significantly harmed our lives. I won’t go into detail, but chronic illnesses, pandemics like Covid-19, pollution, the wealth divide, and other factors are making our lives worse than you may expect.

Well, you might not receive it since you are young, want to be wealthy, and want to make a lot of money. But you will comprehend this when you are in your 40s, 50s, or 60s.

The satisfaction of living a life is not to make money, to achieve financial freedom, or to be able to go around the globe. But true enjoyment comes from adding value to society, animals, the affluent, and the impoverished. Most essential, you must live with your loved ones.

And here comes the sixth step.

Step 6: Enjoy your life

Do you know why I chose to live in my hometown?

To spend my time with my loved ones and enjoy my life.

Yes, I recognize that everyone needs money. I, too, have battled greatly throughout my life to achieve success.

Money, I concede, may buy you time, power, respect, a better life, health, happiness, and so on. So I advise you to learn a talent, earn money from it, start a business, and invest.

But you must understand that we each have our own lives. To be honest, I dislike technology and its influence on humans. But, at some point, I mastered it as well.

I’ve even made money from it. My major love, though, was farming, interacting with people, and living in harmony with nature.

It’s okay if you don’t like it. Discover your own passion, what you want, and how you want to spend your life, and that’s all there is to it.

Let's Wrap Up:

I admired his perspectives on life, money, and investing. I’d want to share it with you. That’s my intention.

Thanks.

Originally published at Medium