All net worth statistics published on Inside Billionaire are from wealthygenius.com. Net worth information may not be accurate.
The reason I built this website was for me more than anyone else.
And now that I’m getting comments and emails from people who share my vision and passion I’m beginning to really love helping people probably just like you.
In this post I am beginning to really delve into my strategy of how I build from my current $1 million net worth, to my vision of becoming a billionaire.
I have been studying the lives of billionaires and how they did it for many years now.
Considering I finished school very young and started an internet business I probably resemble more the Richard Branson type…
I like to think so anyway.
Although the reality is Richard Branson was already a multimillionaire at my age… but still I’m making my way.
And also it’s good to remember that Larry Ellison, who is now one of the richest people in the world with a net worth of over $60 billion…
Well when he was 42 he barely could come up with the $1200 he started Oracle with. Which is a company that now does $40 billion in revenue each year.
In fact there are many billionaires who only became that way far later in life.
For me I am almost 30 now and so I am really focusing on building my earnings, investing it and growing my net worth into the hundreds of millions and, eventually, the vision is to become a billionaire.
So far I have used online marketing to build websites and blogs, as well as setup traditional businesses and marketed them online.
This has helped me grow from literally ZERO, I was surviving on about $500 per month for a while, to over $1 million.
In this journey I have learned a lot. Had a shit-ton of failure along the way, messed up a major cash cow for myself, and generally been an idiot and tripped my way to becoming a millionaire.
I was neither lucky nor was I cursed. If I could do it all over again I would do so in a straight line instead of going one way and then another…
And then backwards and forwards.
Actually making money online can be relatively simple.
Now however to reach my goals I need to think bigger than that. I need to 10X my thinking.
I’ve started investing in the stock market and things were going really well until the market started to rapidly decline in October.
Fortunately I was well diversified and so have maintained much of my gains in stocks that were accumulated over the past couple of years in the bull market.
My strategy is pretty simple.
I like to keep things simple because I have found that when a plan gets too complicated there are too many things that can go wrong.
When a plan is simple with few steps and goes straight to the money, then that is something that I have found works far better.
What I do is I invest the money I make online into the stock market. I have bought bonds too but I really like to buy companies.
I understand it more and it makes more sense to me.
What’s more I like to invest in REITs. Which are Real Estate Investment Trusts.
I would like to start investing in real estate directly too. Buying my own properties yet that is a step which will come later.
For me it is about more than the profit I could make from a specific business.
I think about an investment decision in as many ways as possible with a strong focus on the negatives and also a margin of safety.
By the way a margin of safety essentially is just a way of building in some room for error in your investments.
So if you run numbers on a specific investment and find that it looks like it could make a 30% profit margin in the first year, I consider that it could make zero in the first year, so I have a margin of safety in my decisions.
So the way I see physical real estate right now is that it is certainly a profitable place to put money, BUT…
For one it is less liquid than other investments I make.
For example when I invest in stocks while I do so for the long-term, I still can sell stock off for cash if I need it for another more lucrative investment.
If you buy a piece of land, good luck selling it in any kind of short time frame for most properties.
What’s more, and this is a big one for me: I like to be mobile.
I have to be traveling, I become very stagnant if I stay in one place. I need to really move and get around.
I like to travel and work online, investing in stocks and building my net worth.
I do kind of feel like right now that if I invest in real estate it will tie me down, and I don’t want that.
So I am not investing in physical real estate right now, instead I am investing in REITs which as mentioned are Real Estate Investment Trusts.
These are essentially companies that invest in real estate, you buy shares in their company and you profit from real estate without having to buy property yourself.
So this is a very good system.
As you can see reading this I am continually developing my strategies and really thinking out loud in this blog post.
Sometimes when I just write, new ideas will come to me – somehow stashed deep down in my subconscious or something – and they come out in my blogs.
So this post will get updated as I continue to hash out my personal strategy of turning my little over $1 million into ten, twenty, a hundred million, with the vision of becoming a billionaire.