This post will explain how I became financially free before 30.
To be honest, it was actually quite simple…
And anybody can do it if they put their mind to it.
Here is the exact 3-step plan I followed:
1.) When I left University, my goal was to make AS MUCH money as possible.
Now there are only 2 ways you can do this – a job or a business.
I chose the latter but you can still achieve this by working in a 9-5.
The best industries (from what I’ve seen) where somebody can go from 0 to a 6 figure annual income very fast, without any specialist training is Sales (where it involves a high priced product or service) or I.T. (contracting)
Personally, if I never started a business when I left Uni, I would have got a job in sales because learning how to “sell” is one of the most valuable skills you can have, especially if you become an entrepreneur.
2.) Make some sacrifices.
In other words, you will have to put off some things temporarily i.e buying a flash car or a new house – basically, anything that will increase your liabilities (debt).
Instead, save all of your money while you’re living at home and not contributing towards the bills.
One of my mentors once told me:
“Most people go broke trying to look ‘rich’ in front of their peers. They buy things they can’t really afford just to impress their friends on social media but deep down they are broke and insecure”.
Don’t fall into the same trap.
All the wealthy people I know (who are actually rich and not fakers) are quite modest and frugal. You would have no idea they were rich based on the clothes they wear and the car they drive, on a daily basis.
3.) Invest all the money you saved in 2.) in a property that generates rental income each month.
Buy as many as you can and if you can pay more than 25% of the value in cash, then do so. It will just mean larger rental payments for you 🙂
HMOs (House in Multiple Occupation) give you the greatest return. You can rent them out to professionals or students. I’ve rented to both groups in the past but I’ve found students will give you greater stability.
That is, in a nutshell, how I became financially free before 30.
I created enough rental income to cover my expenses every month.
You can achieve the same as well but it will require some time, effort and sacrifice.
Trouble is, most people are too busy worrying about others that they never have any time for themselves and what THEY WANT…
And years or even decades go by before it hits them:
“Oh why didn’t I try that when I was younger?!
I had no other commitments back then.
Plus, I was living at home rent-free!” 🤦♂️