Lessons from my First Million Dollars

Описание: After making my first million dollars by the age of 32, I have learned a lot and many of the lessons somewhat surprised me.

There is a HUGE difference between making a million dollars and having a million dollars. Having a million dollars takes many years of hard work, saving, and investing! Making a million dollars requires you to obtain valuable skills and does contribute to having a million dollars. And gaining those skills is not cheap! My education (bachelors and masters) cost around $110,000. When you are a student working at a start-up that doesn't pay well, you have to borrow money just to pay rent and have food to eat. Student loans are no fun however they are worth it if you make a calculated risk. Spending a fortune on school is only worth it if there is a good probability of being paid enough to pay the loan in full.

There are sacrifices everywhere! To get promotions and work your way up the corporate ladder you have to perform well and network well. A lot of All-Star employees often get looked over because they haven't built relationships and spoken up when changes need to be made. It is no fun challenging the status quo and often people will dislike you, however if you can make a big impact by pushing for an improvement that will help the business, you'll be able to reap the rewards later down the road. You will sacrifice happiness as there is a lot of stress in determining how much to rock the boat. You'll also have to sacrifice you most important asset which is your time. Working late will prevent you from seeing your family. Being on top of projects and making an impact often requires you to not take vacations. I feel bad that my family hasn't been able to take a fun vacation more often than once every 5-10 years. I'm working on changing this however it is hard to up your performance and take off time.

We all know money compounds however more importantly, Time compounds! Making small changes every day that are positive changes will result in huge gains later down the road. I've often spent my free time increasing my education. Many of the skills I have learned were not relevant at that time however they made me an All-Star when my employer all of a sudden needed it.

Education is more than just college. Education is just enhancing your knowledge. There are many careers that will make you a million dollars and many of them come in the form of vocational school. Don't get caught up in the college trap if that doesn't interest you. Following your interests will make it much easier to stick with your career and perform well! Focus on creating VALUE not MONEY!


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