Salutations to anyone who is reading. Like everyone else, I like to have money. Be carefree about it. And like most of people on this planet, I do not have it.
At the age of 36, I realized I need to take action for this. I need to have a plan for achieving this. I will be 50 soon and that part of life goes like a breeze, so I have been told. And then the 60s hit you. That’s the descent into the 70s and senility.
I have no plan. My job will be overtaken by robots soon. I earn too little. And the 40-year journey to million dollars and beyond is not in my reach. I have to buy a home sooner rather than later. Will have kids soon, so that’s expensive. Nothing in my life is going according to any plan.
The goal is set. It has been set for quite some time but life just keeps on happening. And I have been going with its flow.
As I write this, I realize that I need to be accountable. It will be key to my success. This is why I explicitly sat down and started writing. And as all my thoughts wander in my mind, it is the one defining factor. Alongside, having a comprehensive plan to follow through.
Like most people around, I do not have anyone to talk to. I am distrustful of financial planners. Not because they are out there to get me and want my money. But for two reasons. I am embarrassed by my situation and I am fearful of asking for help. The feeling of being dumb is overwhelming.
Google Will Tell You to Actively Save and Invest
So, like everyone who is scared of asking for help, I did what everyone else does. I asked Google to help me. It was a waste of energy and time. I came across 6000-word articles that were just generic advice.
And it all boiled down to one thing. No, roadmap whatsoever. I wanted someone to hold my hand and show me the path. And I did not want to pay anyone. It did not go according to my plan.
Anything that you will come across will be centred around saving this much for this many years and you will be a millionaire.
How does this help? I know compound interest is very powerful but it seems just a way to pour money in savings depots and earn affiliate commissions for these content creators.
But this is where their help finishes. I have no qualms with affiliate marketing, I would profit from such an opportunity too. But also guide the audience in making the right investments.
I like this advice but I also believe this is not the only way. It is one way of going about it but it is a very passive way. I want to be accountable. I want to be the master of my own journey and be active in my approach.
Actively saving and investing that amount is a very respectable approach. Especially, if you have all the burdens of the world, from going to work to taking care of the family and just want to take care of your portfolio.
But this only works if I would have started early. Or have decent savings. Or knew how to find the right investment stocks and ETFs or Index funds.
But it cannot be the be-all and end of all of becoming a millionaire. And surely, it cannot be the only way to achieve this goal.
The One Youtube Video You Should Watch
I was planning for my life and I got bored of reading the same advice in different packages on Google’s first page. All it took was an hour.
But I could not give up and my idea of an active path to millionaire status brought me to YouTube. It did not go well.
First, I cleansed my mind and watched random videos. It was one of these days, I had a plan and YouTube had another.
But after a couple of hours, I am not joking here. After spending more time watching YouTube videos than reading about my 10-year plan, I forced myself to make the search.
I knew the same material would be regurgitated there. And millionaire creators did not disappoint. And then I came to Anthony Vicino’s video. It resonated with me and it should with you as well. I have embedded it here and would ask you to give it a watch as well.
Budgeting Is Important and so Is Knowing Your Money
Advice over the internet, be it YouTube videos or financial management blogs, is unanimous on two key pieces of advice.
The first is that we need to start saving and put that money to earn more money by investing it.
The second is that I need to know my Money. I need to know where it is coming from, how much it is and how it is spent.
It may sound easy for most of you but for someone on a freelance contract, it is difficult to ascertain it exactly.
Moreover, it becomes more difficult if you are nonchalant about your money. If you are like me and spend money knowing more will come, you are in for a rude awakening.
Anyways, I need to look into it in detail. It is not just knowing where I spend it but also knowing the thought process.
Takeaways From the First Session
It is going to be very BORING. And DIFFICULT. And TIME-CONSUMING.
It is a jungle out there and too much information. There is so much to learn and will require effort.
I need a concrete plan. But I cannot make one without knowing my finances, and my future goals. I cannot just think I am going to be a millionaire in 10 years and it will magically happen. It is just the first step.
It is daunting to know that half of your life has passed but you are still on the first step. But one thing that every writer and influencer told me was that there is still time. It is never too late.
For whatever are their reasons, I want to be optimistic in my approach. And they might actually be genuine in their advice.
So, here it is. I will be optimistic in my approach and actively craft my roadmap.
For anyone wondering why I wrote this, it is simple. It is frustrating to find an answer. And I did not find an answer. I got clues to build upon. You might find yourself in a similar situation. Don’t get discouraged. Soldier on.
I will be back with more details.