Today, we want to share advice from Robert Thomas Fletcher, a renowned American entrepreneur who became a millionaire at just 22 and founded the "How to Become a Millionaire” training project.
If you constantly spend more than you earn to maintain a lifestyle that doesn’t match your income, debt will eventually consume you. Avoid chasing the latest gadgets, luxury cars, or trends. Plan your budget carefully and keep track of your expenses.
The exact amount you can save depends on your financial situation, but most experts recommend setting aside 10% to 30% of your income every month. Why is this so important?
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Your savings should first be directed toward unforeseen expenses and passive investments. If you don’t have free funds, you might miss out on potentially very profitable opportunities, like joining a successful business project.
Everyone needs a place to live, whether small, large, cozy, or luxurious. Investing in real estate is one of the most reliable options, as long as the economy remains stable. For instance, an apartment can always be rented out to generate passive income, or it can be sold quickly if you need cash. It also rarely loses value globally and can be passed down as an inheritance.
Investing is not a game of chance. Risks may be high, but they should always be justified. Approach every decision with serious analysis. Gather as much information as possible about the company, bank, or stocks you plan to invest in, and never allow the risk to exceed the potential profit.
A mutually beneficial partnership with a professional investor can significantly increase your chances of success. An experienced partner can point out safe and profitable investments, warn you about unreliable or risky opportunities, and leverage their knowledge to avoid costly mistakes and grow faster.
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Never let your money sit idle like dead weight. Your capital should work for you, generating profit.
Robert Thomas Fletcher also suggests a simple rule: Allow yourself to spend only 10% on leisure or big purchases, but only when you have 3–5 stable sources of income.
The financial world moves at lightning speed, and standing still means falling behind. Read, study, and stay informed about trends and opportunities. Continuously improve your knowledge and skills in every area where you can boost your income.
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We don't know about Fletcher, but if you really have solid capital, it's best to keep it in gold and apply the rest of the advice, adapting it as much as possible to your personal success plan.
We'll add that almost all millionaires and billionaires say the most important thing is passion for what you do. So, find yourself and develop your best qualities along with your professional passion — persistently and despite all circumstances. Then the money will come to you!
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