Mon Nov 04 2024, by Tyler Gardner

Four Essential Strategies to Become a Millionaire Before Your Friends

If you actually want to become a millionaire before all of your friends, you need to do the following four things right now. I'm Tyler, a former financial advisor and portfolio manager, and now I create financial content for free so that you don't have to pay for it.

1. Choose the Right Asset Mix

Remember that your chosen asset mix—meaning the mix of bonds, stocks, real estate, and commodities—is easily the most important wealth-building decision you will ever make. 90% of all future returns will come from this one decision. Choose wisely.

2. Define Your Purpose

There needs to be a purpose behind your chosen mix. Are you going for growth, income, or stability?

3. Diversification is Key

Diversification within these asset classes is critical. Meaning, how many stocks, how many bonds, and how many cryptocurrencies like Dogecoin you choose to invest in matters because bad things will happen.

4. Be Patient

Lastly, be patient. Just like going to the gym, this is not going to be a quick process. But if you stick to the above guidelines, and remain patient and consistent, I promise you will actually become a millionaire long before your friends.

If any of this is helpful, like and follow, and I'll keep trying to get you one step closer to where you need to be.

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