In today's video, you are going to learn the 10 steps that Graham Stephan
took to become a millionaire at the young age of 26. Graham was
actually one of my favorite finance YouTubers.
So I am excited to share the steps that he took to become a millionaire.
I am Tiffany Thomas with wealthytiffany.com
and I achieved financial freedom and became a millionaire myself.
So, smash that like button,
and the subscribe button and we are going to dive right in.
All right, let's talk about the 10 steps that Graham is giving us to become millionaires ourselves,
and make sure and stick around
until the very last step because I feel like that one is very important.
And a lot of people don't talk about it. Step number one,
that Graham Stephan shares with us is to save your money.
And this is so important.
We do want to be saving our money,
and we also want to be investing our money.
So he combines those two steps together, saving
and investing your money. He's a firm believer that it doesn't really matter how much money
you are making, it’s what you are doing with that money.
Are you saving that money? He says, now is the time to
live frugally and invest as much money as possible because the younger you are,
then the more you can take advantage of compound interest,
which is your money working for you. It is interest earning interest.
So when you do become older, you will have a significant amount of money
because you started investing at a young age. And he says,
specifically don't just buy something because you can buy
it, he makes a really good point. We don't want to just be spending our money because we can,
we want to focus on our priorities, on our financial goals.
Because if we are just spending all of our money,
then we are living paycheck to paycheck and we are going to
feel strapped for cash, instead of growing our wealth and becoming millionaires.
So make sure you are saving your money and investing it.
I know for me, I used to be a really big saver,
and now I've turned more to an investor so I still save my money,
but I am actually having that money work for me.
I'm not just leaving a ton of money sitting in a savings account.
So we really want to make sure that when we save our money,
we're saving for something specific and then we are investing the rest of that money.
For example, if you just need to build up an emergency fund,
that's great. Once you've saved enough money for that,
emergency fund amount, whatever that might be,
then you need to be investing the rest of your money,
making it work for you so that you're not always working
for the money. And if you've watched any of Graham’s videos,
he is very good at saving his money and being very frugal.
He talks a lot about not spending money at Starbucks and making his own coffee.
And I know that he started his own coffee business,
but there are just little things that we can be doing to save money
and one of those could be to not drink any coffee.
Then you would be saving even more money, which is what I do.
And while Graham does say to invest your money,
he doesn't say specifically to invest in real estate.
And I was wondering if he would
because I know he has been very successful with investing in real estate,
but it just goes to show that you don't necessarily need to invest in something,
in particular, to become a millionaire.
You can invest in real estate if you want to, or even in the stock market,
or even in your own business, or in someone else's business.
There are a lot of different ways to invest your money.
You just want to make sure that you understand exactly
what you are investing in and that you have done your research on that investment.
Step two that he gives us is to work with everyone.
And I like that he says this, he is talking about
when you are starting your own business or even if you were just working for a company in sales,
whatever it might be, work with everyone,
don't just pick the high-paying clients and ignore the low paying clients. He talks about how
he was able to work with someone that he did not make that much commission with
but later by working with that person,
he was introduced to a different person and made
a lot of commission on that other person. So when you are trying to get things really going,
don't be picky about who you are working with.
He also said, he learned a lot from working with those clients that were difficult to work with.
So don't think that you're too good to work with someone
or above working with someone because you aren't going to make money
if you aren't working with someone. As a real estate agent,
he worked with everyone and he says that by working with these difficult clients
or the non profitable clients,
he had the best learning experiences,
which helped him in so many other ways.
When you are starting out, work with everyone.
And then step three is be surrounded with success.
And I think this one is a really true. He talks about the quote or the phrase that says, you are
the average of the five people you hang out with the most,
if you are surrounding yourself with negative, draining people,
then you are going to become one of those people.
But if you were hanging out with successful people who are high energy and positive,
then that will rub off on you, and you will also become that same way.
And there's not just one success to approach.
There are numerous ways to be successful.
So if you are hanging out with different people that are all successful,
you can learn different ways to build your success.
And I think that is a great concept. For me,
I've had at least two main mentors that have helped me with my real estate investing.
I have a friend who is really successful with his real estate investments
and I asked him a lot of questions and he walked me through buying my first rental property.
And then I also had a boss who was really successful with real estate as well.
So I asked him a lot of questions
and while they were both successful, they had different strategies when investing in real estate.
So it was really cool to learn from both of
them and then take parts of both of their strategies and develop my own strategy.
So really be careful who you are spending your time with.
And then step number four is to not let people discourage you,
he says, for most people, they let others influence their decisions,
far too frequently to the point where they'll never try,
because someone just tells them not to.
So, don't let someone else's insecurities or jealousy
get in the way of what you want to be doing. And clearly Graham Stephan
has been very successful with his real estate investments.
And with his YouTube channel and building up that part of his business.
If he would have listened to the haters and those that were discouraging him,
he wouldn't be where he is today.
So make sure you are doing the same thing and not listening to those people.
And I remember talking to one person in particular
and I was telling him that I was setting up my own business
and I was going to help women learn to manage their money and invest it.
And he said to me. Oh, really?
Is there even a need for that? And if I would have just listened to that,
I thought, oh, maybe there's not a need. Maybe I shouldn't be doing this. Then there's
no way I would be where I am today, and sharing this content with you. And Graham says,
he doesn't even tell people what he is going to do anymore.
He just does it and then tells them later that he's already done
it. And it's true with doing YouTube
there are a lot of haters and negative comments on videos.
So it's not something that's always easy to handle.
But if you can just push past that and still do what you really want to be doing,
then you can become successful. Especially if you are doing these other
steps like hanging out with other successful people.
And step number five is to be open to constructive criticism.
So this isn't listening to all of the haters.
And all of the discouragement, but to people that are sharing constructive criticism.
Things you may be doing that aren't your best.
He says to hear out what they have to say and then decide for yourself,
if it is worth implementing. So it is important to get feedback from other people,
but it's not that you have to listen to all of that feedback or take it to heart.
You can decide for yourself what you think is applicable and then take action in that direction.
Step 6 is to trust your intuition,
trust your own instincts. He thinks that far too many people
ignore their own intuition, just because they think they might fail,
or they might be wrong about something, but he's learned,
if you have a gut feeling about something,
chances are you are right. And you should follow that feeling and I completely agree.
You should listen to your own intuition.
Sometimes there might be an opportunity that looks really good on paper or the numbers
add up and you think it might be great.
But there's just this feeling you have inside that says,
you probably shouldn't do this. You should really trust that instinct.
I know when I haven't trusted that instinct,
the things have not gone that well, so while yes other people can give you ideas or advice,
you have to trust yourself and make decisions based on your own instincts.
Comment below and tell me if you were trusting your own instincts.
If you're following your own intuition. And then step number seven,
that Graham Stephan shares with us on how to become a millionaire is,
if it is too good to be true, then it probably is.
He says to go into everything with this mindset, trust but verify.
It's okay to have a healthy amount of skepticism.
But verify everything on your own.
There are a lot of people out there telling you how to get rich quick or get rich overnight,
but honestly, that sounds too good to be true.
So it probably is. You really want to do your own homework
and make sure that it is something you really want to be doing.
So don't forget to trust but verify. Step number eight on how to
become a millionaire is to always keep
growing or learning.
This could be learning new skills, reading new books, watching YouTube videos on new subjects,
and also smashing that like button.
You always want to be doing something to improve yourself.
He's a firm believer that if you aren't getting better at
something than you are getting worse at it. And I really like this one.
I love reading self-improvement books or self development books.
I love to continue to learn
and gain knowledge and it really does make a big difference not just generically
in life but in specific things that I'm working on.
For example, when I installed flooring into the house that I was moving into,
that was a brand new skill that I had to learn.
So I watched a lot of YouTube videos about that
but I was able to learn that skill and put the flooring in my house.
And no, I did not do it by myself. I did have some help
but there are so many different skills that we can be learning.
So we never want to stop improving ourselves.
We can always get a little bit better.
Step number nine is to do it consistently. Graham Stephan shares with us that
we really want to be doing things consistently
and making those small steps every day.
So then we can see our long-term results.
He says to have faith in the process and realize that you will not see results overnight.
It is going to take time to see those results.
And this is very true, especially in regard to finances.
When you are investing your money. You are not going to see astronomical growth overnight,
that's going to take time. But if you were consistent about it,
if you consistently invest your money,
your investments will rise over time.
He says the longer it takes you to do something, then the longer it will
last. That is a pretty cool philosophy
and I definitely see his point
because if you are working on something over time and you are doing it consistently,
then it kind of becomes part of you,
and you get really excited about that thing.
And then, once you see your results later on down the road,
then you have more appreciation, for whatever it is that you have been working on.
If it was just to happen overnight,
then you probably wouldn't appreciate it that much. For example,
in growing my YouTube channel. This has been a long process and I've seen results come,
but it has been because of my consistent effort over that long-term.
Graham mentions doing one percent better every day.
Just making that small effort every day really makes a big difference over time. And Graham’s
step number 10 to becoming a millionaire is to help other people, to serve others.
He says, so many people are afraid of people stealing their ideas
or being better at something than someone else's.
But let's be real, life is not a zero-sum game when someone wins,
someone else doesn't have to be losing. The more you are able to help people,
then the better off everyone will be.
Not only are you making everyone else's lives better,
but you're also making your own life better because you are sharing your knowledge,
your wisdom with other people, which makes you even smarter.
Because when you teach something to someone else,
then you are definitely remembering it.
But your life is also being blessed because you are willing to serve other people.
I know that is true for me, if I am kind of feeling discouraged and if I go and help someone else,
if I do some service for someone else then I automatically feel better.
Also, not only do you get to make a positive impact on someone else,
but you never know, later on that person may be able to help you
and it's not that we should go into service with that kind of mindset.
But it does happen quite frequently. And even when you are serving someone,
it doesn't have to be that person that helps you later.
It can be someone else. Make sure your focus is on others and helping them.
And speaking about helping others.
One thing that has helped me to manage my money better is Personal Capital,
which is a free app that you can hook all of your financial accounts to.
So, if that is something you are interested in, I will leave a
referral link below in the description.
You can click on that to set up a free account to help you manage your money better.
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Thanks so much for watching. I'll see you in the next video.