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Financial Independence: How to Become a Millionaire by 30…or, 60?

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It seems that the path to financial independence has taken a detour and set back many plans for several more years.  One has to ask themselves, can I still be a millionaire by 30, 40 or even 50?  Or even at all?

How many people do you know who have aired their deep concern with losing money in their 401(k) retirement plans or equity value of their real estate properties?

Is there a solution to all the financial and economic problems we are facing?  How is the “lost generation” supposed to graduate from college and follow the dreams from four to five years ago that was so enticing before entering college?

How are young professionals who have begun to build upon their experience and accomplishments keep continuing to move forward?  They face big speed bumps staring into a tough economy which includes massive layoffs, high interest credit card debt, large student loans to payback, snail-paced hiring decisions and job uncertainty?

While attending many networking events here with from from Facebook in Chicago, I bump into many skeptical parents who are raising young families while earnestly seeking other opportunities “just in case” they become a business statistic.  Being a single father myself, these conversations run long.

During these times, I took an opportunity to spend some time with my mentor, Douglas Andrew on a retreat in Maui.  They have authored several books on personal finance, retirement planning and wealth transfer including the NY Times best selling book Last Chance Millionaire: It’s Not Too Late to Become Wealthy.

After drawing on his last 30 years of his financial planning experience, I asked Douglas Andrew questions about what people should be considering now, in this new era of personal responsibility.

His answer was discover ways to “create your own stimulus”, by rethinking how traditional financial planning is really wasting the value of our homes and soon-to-be-taxed retirement plans.

I also asked his son, Emron, and son-in-law, Scott, about how to choose the best investments, especially when nothing seems to be going right. Another question was related to how people straddled in debt can get on the path of early financial independence, if possible.

I think you’ll find their answers intriguing!

FREE BOOK OFFER: I have (1) copy of their book, Millionaire by 30, in my office and I’d like to give it away!!! (Don’t worry, these principles work and can be adjusted even if you’re past 30, 50 or even 60 yrs old!)

BONUS: I also have a free DVD and 2-CD set which explain these unique financial strategies…for the lucky winner! This is a $97 total value!! Booyyaaa!!!

How do you win?  The winner must:

1)”Tweet” this blog post OR

2) Post it on their Facebook profile AND

3) Drop the best comment pertaining to a financial dilemma they’d like to overcome…

Good luck!

Currently there are "5 comments" on this Article:

  1. Hillary Weston says:

    I’m Interested in learning more about financial independence.

  2. Zack Isaacs says:

    Uncertainty is my middle name. Well, not really, but that’s easier to pronounce than my real middle name.

    I will say this Matthew: I am a graduate student who has more debt than Tiger has jumpoffs. But my optimism is an asset that most accountants forget to record on the balance sheet. It is a true “intangible” asset. It’s something that overwhelms my liabilities (student debt, lack of employment opportunities, and struggles with my race).

    The God I serve evens out all of the things going against me and ensures that “all things work together for the good of them who love the lord, according to his purpose”. (Romans 8:28)

    So, while I’m not sure what’s going to happen to me, I know WHO is going to keep me.

  3. Learning to become a Millionaire by 30 is way over due for me as I am in my mid 30’s. During the current economic crisis, I successfully made choices that allowed the bank to take our home back, the courts to eliminate our debt, and our life savings to be completely drained of its’ assets.

    During this time, I have learned that the internal representations about money and what I can or cannot do are a huge factor in creating wealth. I’ve also grown to recognize that the ways in which I define these things have a huge bearing on the associations I have with other like minded people. It is amazing to me how we associate with ‘like minded’ people.

    As a result of my internal growth, I’m noticing the people I’m associating with are different. My closest friends are still close, but I’m spending more time growing with others who desire similar outcomes. Our frequencies are aligning and the energy is flowing differently.

    What’s really very interesting about all of this is that opportunities are arising that I never knew existed, yet they’ve always been right in front of me. I was not tuned in because of all the internal representations that I was making.

    I’m growing more and more interested in learning from the masters who have gone before me and to associate with like minded people. I am very interested in learning more about the internal game of money and how it can either make or break a person.

    Thank you for all you do Matthew.
    Warmest Regards,
    Joshua

  4. Angela Carrillo says:

    I am a 28 year old divorced/ single mother of 6 kids and work as an RN part time. My financial goals are to go to medical school and to be able to afford this while rasing my kids all while hoping to not drown in student loans.

  5. Gabe Wright says:

    Thanks for sharing this Matthew!

    The biggest financial dilemma that I would like to see myself overcome is to learn how I can develop the uniqueness that I am as an individual who is Deaf while at the same time using the gifts that I have been given in this world to not only improve my own well being but at the same time continue to make a difference in the world through my career. No matter how much money I make, I will never turn my cheek from those less fortunate because if anyone knows what it is like to not have been granted opportunities at early age, that would be me.

    I grew up barely passing school while being bounced around from school to school because of having a disability. I have never had stability in my life and even so to this day at the age of 35, I am still trying to define how I view stability in my life. I flunked out of college right out of High School but eventually made the trek back when I was 25 and enrolled full-time while also living in the dorms with an 18 year old freshman who is one of my best friends. I allowed myself to step out of being scared of who I am as a Deaf individual and become involved in everything on the campus from rushing a fraternity to being in Student Government. I became a first generation college graduate and then immediately went on to earn my Graduate degree with a sharp eye on a potential Ph.d one day in the future. I am what you call a “late bloomer.” Even though I have my days where I look into the mirror and see a 35 year old man without a level of stability I want, I know that looking back at what I have accomplished through all my trial & errors and adversity in my life, I am eternally grateful and feel “as if” I have won a million dollars but know that there is still plenty of room and potential in my life to to turn that million dollars into 10 million so that I can eventually help others who have also “walked a mile in my shoes” but just lacking the encouragement that I did not have much growing up. And if anything can jump start this path of stability, this book and your support is definitely a great start!

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