Entrepreneurship

How to Retire Early as a Self-Made Millionaire

self-made millionaire

The increase in young people achieving retiring young as a self-made millionaire is living proof that the dream lifestyle is yours for the taking!

The Research

Business Insider spoke to multiple self-made millionaires who were successful enough to retire young, and they identified a few shared habits amongst them.

1. Self-made millionaires are always on top of their finances. They know where they stand financially at all times, what they can afford to spend, and how much they need to invest and save to upgrade their life.

2. Successful people often have multiple income revenue streams. Many tend to live on one of their revenue streams so that they can invest and save all additional income. They downsize and live within their means for a better future. Avoiding unnecessary spending on materialistic items plays a critical role in achieving millionaire status.

3. Passive income is key. If you can continue making money while you're sleeping or vacationing, you're on the right track.

4. The majority of self-made millionaires make their physical and mental health a priority. They understand staying fit is essential to stay mentally sharp, physically strong, and is a great way to de-stress.

5. To achieve self-made millionaire status, you have to engage a positive mindset. You need to see opportunities where others see obstacles.

Do you dream of retiring young, and if so, how do you plan to achieve it? Tweet me @lorenridinger.