How to have
1 Million Dollars By 30
How to be a Millionaire in 10 Years (Starting from $0)
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what's of you guys it's Graham here so
let's talk about something that probably
most of us want to achieve at some point
and that is the milestone of becoming a
millionaire and I remember growing up I
wanted to achieve this and I heard the
term millionaire and I imagine some rich
businessman with like a convertible red
Corvette parked in front of a mansion
that is right on like the golf course
and that's something that I just wanted
to achieve at some point in my life no
in reality becoming a millionaire is not
living in a beachfront mansion playing
golf all day instead it's sitting in
your garage making YouTube videos on a
Saturday at 5:00 p.m. living in a duplex
and driving a ten-year-old Lotus that
you bought used and I realized by now
you're probably asking yourself wait a
second Graham how can I have free time
on a Saturday at 5:00 p.m. to make
YouTube videos and live in a duplex and
buy a used Lotus - and you know what
that's a really good question and we
should discuss this and I say this as
basically someone started off with a few
thousand dollars pretty much whatever I
had saved up from working throughout
high school to being worth over a
million dollars by the time I was 26 -
now in the multi-millions and all of
that without rich parents and without a
sugar mama so let's break this down and
explain some of these strategies that
you can replicate as well to go from
being worth nothing to being worth over
a million dollars in the next ten years
but before I get into the specifics
here's where you first need to start in
order to make this actually worth
because I promise without this part your
plan will absolutely fail and when it
comes to increasing your net worth it
makes very little difference how much
money you actually make now you might be
thinking to yourself that that makes
absolutely no sense I've gone crazy
dislike unsub Graham is lying to us but
let me explain when it comes to
increasing your net worth what really
matters the most is how much of your
income you can actually save not
necessarily how much money you can make
I can't even tell you how many people I
know making five hundred thousand
dollars a year but they spend four
hundred and eighty thousand dollars a
year on random bullsh
I've seen so many people who make 250
thousand dollars a year who somehow live
paycheck to paycheck with absolutely
nothing to show for it because they rent
a very expensive house in the hills with
a nice view they lease a Ferrari and
they take very fancy Instagram pictures
from vacations they have spent $20,000
on and on the
other hand I've seen people who make
$80,000 a year who somehow are able to
save $40,000 a year and invest that
consistently I've seen so many people
who are worth more earning $100,000 a
year than the dude who's making seven
hundred and fifty thousand dollars a
year simply because the hundred thousand
dollar a year person saves more and if
you guys want to know the secret about
how I was able to become a
multi-millionaire my 20s it's because I
lived and spent like I was broke I
pretty much spent my money as though I'm
making a MacDonald salary that sounds
like celery like I'm making a McDonald's
celery salary with an S and no matter
how much money I make in a year I spend
the exact same amount I don't care if I
make nothing in a month or if I make a
hundred thousand dollars in a month my
spending doesn't change at all instead I
wear $4 and $0.99 shirts from H&M i buy
clothes on Black Friday because this was
like 60% off I live in a duplex so I
could rent out the other side and pretty
much just live for free I make food at
home instead of going out to expensive
restaurants and also I make sure to
smash that like button if you haven't
already now I get that this might be
pretty extreme and it's not for
everybody but the reality is that most
very successful people don't necessarily
have an income problem they have a
spending problem and if you're watching
this video chances are you already have
the ambition to go out there try to make
as much money as you possibly can it's
just you need to be prepared to make the
sacrifice they're really hunkering down
for the next ten years saving and
investing as much money as you can and
that will set you up for the rest of
your life you really got to think to
yourself is one decade of frugal living
worth it for an entire lifetime of
freedom to never have to do something
you don't want to do to never have to
worry about losing your job or never
have to listen to the boss that you hate
it's definitely not for everyone and
there are many people who feel that they
just deserve to spend money because
they've worked hard for it and that's
totally fine but you know what that's
not me and by living frugally I have
never once felt deprived because of that
if I really wanted to go out and get the
Lamborghini that I've been saying I've
been wanting for like the last year I
can go out and buy one right after this
video in cash but I'll tell you
something the real joy doesn't come from
going out and buying those things that
comes from having the choice that if you
wanted to you could just think about
that for a second enjoyment comes from
the freedom of choice not the choice
itself but I realize this is some hippy
New Age [ __ ] but you know what I
mean that's been my experience so with
that said if you're not able to get your
spending under control you really only
have two options the first one is that
you need to make a ton of money starting
a business to the point where it doesn't
matter how much money you spend or you
need to make a very speculative
investment that pays off very very well
now that might sound pretty black and
white but when you break it down that
you need to save 273 dollars every
single day for 10 years in order to save
up enough money to say you have a
million dollars that's a lot for 99.999%
of the population to handle but here's
the thing now when it comes to doing
this usually just saving up money alone
will not get you to that point now what
you realistically need to do in order to
speed up this process is invest your
money no even though I've been able to
keep my expenses pretty low the reality
is that I would not have become a
millionaire by 26 if I didn't invest my
money it's as simple as that the fact is
that you can really only do so much on
your own before you need a little help
so that's why you should really have
your money working for you and if you
want a million dollars in the next 10
years what that breaks down to is
investing six thousand dollars a month
every single month at a 7% annual return
and congratulations after ten years you
have become a millionaire from investing
six thousand dollars a month
unfortunately though that's easier said
than done and the reality is that
investing six thousand dollars a month
for the majority of the population is
simply not doable because remember that
works out to be seventy-two thousand
dollars a year after you pay taxes and
that's also 72 thousand dollars a year
after you paid all of your living
expenses like food shelter car bits
connect life just adds up and if you're
actually earning that much money in
order to save $72,000 a year chances are
you're making more like a hundred fifty
thousand dollars a year gross and you're
living frugally at the same time so when
it comes to actually making that amount
of money or saving that amount of money
rarely does that happen from strictly a
salary job especially if you're watching
this and not already
150,000 dollars a year and if you are in
one of these careers or you do have a
great job that's paying you over
$150,000 a year like I said
congratulations it's really just a
numbers game of saving six thousand
dollars a month over ten years at a 7%
return and there you go that is how you
become a millionaire in ten years no
earlier in the video I give an example
of someone who's making $80,000 a year
after paying taxes and saving half of
that income that works out to be $40,000
a year or 3,300 dollars a month
no even when it comes to investing this
chances are you're not going to be able
to get a high enough return to become a
millionaire in 10 years by simply
investing $40,000 a year for example if
you invest $40,000 a year and take the
typical 8% average stock market return
over 10 years you're only going to be at
seven hundred and twelve thousand
dollars that's nearly three hundred
thousand dollars shy of your $1,000,000
goal however by investing your forty
thousand dollars a year at an 8% return
you could still become a millionaire
it's just going to take you thirteen
years to do it not quite our 10 years
that we're going for here so in order to
increase your return without too much
risk of losing all of your money you
need to actively work on your
investments to increase that return and
for many of you who have watched my
channel already you know my favorite way
of doing that is in real estate now
here's how you can do this and yes I
totally understand I'm definitely
simplifying things a lot but here's the
basic concept so let's take our example
you're making $80,000 a year after taxes
and from that you're able to save
$40,000 a year and what you do with that
extra forty thousand dollars that you
save you use thirty thousand dollars of
that as a down payment towards real
estate and then the remaining ten
thousand dollars you spend on renovating
that property you just bought so in
order now to increase those returns this
relies on you finding a property that
you could buy for twenty thousand
dollars below what it's worth so this
means you end up buying a $200,000
property for one hundred and eighty
thousand dollars then from there you're
gonna be spending your remaining ten
thousand dollars renovating the property
and typically when you do this any
renovation you do should at least double
the return in terms of equity so when
you spend ten thousand dollars
renovating a property it should bring up
the value of the property by twenty
thousand dollars so sometimes it's a
little bit more sometimes a little bit
less but again this is
my example but in this example you've
invested $40,000 total in this property
again $30,000 is a down payment
$10,000 in a renovation but in return
you've received back in additional
$40,000 worth of equity in the property
essentially just doubling your money now
you should have $80,000 worth of equity
in the property that should hopefully be
generating you about an 8% cash on cash
return that you could then use and save
to reinvest back into the next deal now
if you can go and find one of those
properties every single year and then
reinvest all of the profit you will be
worth way more than 1 million dollars
within 10 years that's pretty much what
I ended up doing except here in Los
Angeles with much more expensive
properties and if that example sounds a
little bit far-fetched to you just keep
in mind that was a real example from
micros hearts who I had on my channel
earlier this year who became a
millionaire at the age of 25 doing
exactly that
he's a prime example of someone who
became a millionaire and really about
seven years by working a day job living
frugally and reinvesting all of that
back into real estate
but what about now for everyone else who
isn't making $80,000 a year because if
you're watching this right now and
you're making $25,000 a year the chance
of you becoming a millionaire without
taking some incredible risk is just it's
realistically not gonna happen so in
order to do this you really need to work
now on increasing your income so you can
save and invest more so when it comes to
actually becoming a millionaire in ten
years starting from nothing without
right now having income you really need
to work in an industry where your income
is not tied to how many hours you work
because if you're paid per hour unless
you're already making like $500 an hour
or something like that there's only so
many hours in a day that you could work
and in over a decade of doing that it's
very easy to get burnt out very very
quickly so instead if you're working in
a sales environment or anything where
your income is not tied to the amount of
hours you work but instead by the
results that you get it becomes very
easy to scale up very quickly to a very
high income I know a lot of people for
instance that are making over two
hundred and fifty thousand dollars a
year as a real estate agent and they're
only 2 or 3 years in the business now
and while this definitely is not the
norm and many people don't ever achieve
those sort of numbers in sales the
reality is that if you're very good at
what you do you can achieve some
incredibly high-income very quickly and
become a millionaire in just really a
few years and that's how I was able to
do this I worked as a real estate agent
I was able to leverage my time as
effectively as I possibly could and then
funneled all of that money back into
real estate investing and Here I am
today making YouTube videos about doing
exactly that and sales can really be a
great career path for those that are
into it that find it exciting that like
to work with people and you really want
to make as much money as they can and
not get paid per hour and another option
here would be to go ahead and start your
own business now I know that this might
be a big commitment for many people to
make but the reality is that if you hit
it big in business and you find
something that you really enjoy doing
oftentimes you could scale up very
quickly and make a lot of money and
anything you could do online has the
potential to scale up very quickly I
know many people who are now making a
hundred thousand dollars a month in
profit who a year ago we're not making
anything and short-term if these people
can just live frugally save as much of
that as they can and just write it out
for a few years they will have over a
million dollars saved up and we'll never
have to work another day in their life
and online scalability is absolutely
amazing for the same amount of work it
takes you to reach ten people online you
could expand that and replicate that to
reach ten thousand or a hundred thousand
people and because of that you can
leverage your effort not your time to
make significantly more money and if
this video ends up getting pushed to
mine on audience first of all what's up
nan audience thank you so much for
watching if you haven't already make
sure to smash that subscribe button I
have a feeling though that most people
would say this is wildly unrealistic and
that the average person isn't able to do
this and you know what they're
absolutely right the average person is
never gonna do this the average person
is never going to try the average person
is going to think this is a massive
waste of time and the average person is
never going to want to make the
sacrifice needed to actually make that
happen and if you guys want the harsh
reality that mentality is exactly why
they are average but I have a feeling
though that if you're watching this
especially towards the end you don't
categorize yourself as someone who is
just average trust me when I say this
that if I believed that none of this was
achievable I never would have achieved
it I was able to achieve this because I
had the belief in the
that I could actually do it and that
became a self-fulfilling prophecy
you will need to think the exact same
way and if you follow this cut back on
your spending put in the work invest
consistently long term and work in an
industry where your income isn't
determined by the amount of hours that
you work but by the results that you get
you too could become a millionaire in
the next ten years and by the way for
anyone interested in my program the real
estate agent Academy which details how
you can grow your business as a real
estate agent I'll be offering $100 off
for the first ten people with this
coupon code just one hundred and then
the word off so just one hundred off
again for the first ten people if you've
made it to this point in the video I
feel like you know there you go
I'm not putting this in the description
I don't really mention this in anywhere
else so it's just right here for anyone
who's made it to this point so anyway
that's it I hope you guys enjoy again
thank you so much for watching I really
appreciate it if you haven't already
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until next time
