Essential productive aspects to make you a millionaire in 2020

Many people either think of it as an unrealistic approach or they are unaware about the fundamental strategic planning. Your thoughts always play an essential role in establishing your future. Allotting and investing time on your productivity is essential to grow. Briefing it further, an optimistic attitude and a right direction helps you in attaining the target goal. In this era of competitive and occupied days, my analysis will guide you delivering ease in achieving your dreams this year.

Analyze financial status of current remuneration and savings

The first and foremost is considering your back end saving and income generating level. In order to accomplish the desired financial status, you are required to analyze where you stand, how much you entail and what figure is to be saved. A complete financial plan is better off to initiate with.

Besides, set a limit to nonproductive spending activities. Subsequently, another logical step to pursue is to think out another cause of earning to engage your free time. Perhaps you can teach, give a portion on rent or get a part-time duty for regular stipend.

A well-known author, Thomas C. Corley, studied successful profiles and discovered a fact that 233 people were having 20 times higher net assets than their aggregate income supporting their rationally saved and invested behavior. 

Gain new but trendy skills

Considering financial aspect, the next step in the ladder to success is to LEARN. Optimize your habits by involving enhancement of competitive skill set. Search out for the skills in demand targeting the next years. With the enrichment of technology, you can now register yourself for online hassle-free courses. For face-to-face lectures, there are a lot of seminars and events happening around too. Then, join purposed LinkedIn/Facebook groups for little side by side support.

“Developing a passion to learn, will never cease your growth”

-     quoted an author, Anthony J D’Angelo

Some skills might upgrade you in your field, while some would improve you further creating you an intellect. 

Readers are leaders!

One similar thing among every successful entrepreneur to look out for is reading.

Bill Gates devotes reading one book every other week. Warren Buffet strives 80% of each day in reading. Oprah Winfrey picks her favorite reads every other month and other more high profiles can be counted on.

Ensure that you abide by reading every day, be it books, newspapers or e-articles. It boosts language, communication skills and updates you with your surroundings. People also listen to podcasts, radios and talk shows to get refined.

Be more frugal, let alone debts

As mentioned above, looking up for more opportunities can decrease the chances of financial borrowing and future bankruptcy. Most millionaires didn’t indulge themselves in fancy and expensive purchases either, at least when they striving hard. 

Warren Buffett still resides in his old house located at Omaha, Neb. which he had purchased for $31k in 1958. His house worth is $650,000 currently. Yet, he is also selling his California based beachfront house located at Laguna Beach for $11 million.

Prefer a minimal lifestyle, cut down eating out expenses, focus on taking public transport and stick to debit card usage only. This mindset would encourage you on thinking twice before spending unnecessarily.

Notify your existence to the world

On starting a business (even freelancing), people generally emphasize on only selling work and spamming every other person’s phone. The trick is market your brand effectively. The more skill-oriented awareness you create, the more you succeed. Its significance can be noted from the below stated fact:

41% networkers are willing to network more often but fail due to time constraint

Associate yourself with Networking factor wherever you go and whatever you do! Stay active on your social media accounts, share your interest-oriented information and if possible, upload your work too as no matter how good you are with your work, nobody can know unless to stay active. 

Meeting with other individuals is recommended by 100% people for long-term business contacts.

It is also encouraged to attend informative and relevant events to attain the chance of spreading your specialties alongside; gaining clients or other opportunities. I would also recommend a good read “The Intelligent Investor”, by Benjamin Graham to help you catapulting towards success.

Excited to learn more? Contact me at [email protected] to further guide you in branding your personality or working on your personal brand.