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How To Be A New Generation Millionaire

Photo by Austin Distel on Unsplash

Being a millionaire is relatively easier nowadays. There are so much more opportunities to earn with the advent of the Internet, Social Media and Mobile Technology. Many ways to earn a quick buck and generate a side income. You just need to hustle and put the work in. 

But always remember — Your net value is a product of 2 things. The money you earn and the money you spend. That’s what you need to be wary of and the New Generation Millionaire is highly conscious of these two things.

Here are 5 Inspiring Thoughts that I would like to share with you in this article.

Inspiring Thought No. 1 – New Generation Millionaires are PRACTICAL.

Because of technology and competition, we now have more options than ever before. Be practical with your lifestyle. Expensive doesn’t mean it’s the best anymore. If you plan to buy stuff just to show off then that is just an outdated attitude and thinking.

Be smart. Be pragmatic. That’s the new generation mindset. As I said earlier, being a millionaire is about the money you earn and the money you spend. There are a lot of people that earn more than a million ‘easy’ because of their high salaries but because they have ever-increasing expenses – they never really get to ‘keep’ their million. 

I’m not saying that you should become some sort of a cheapskate or scrooge. I’m just saying that the new generation is beyond ‘stuff’ — they are attracted to other things.

ACTION ITEM – Identify money-wasting tendencies that you might have and simply get rid of them.

Inspiring Thought No. 2 – New Generation Millionaires are HUNGRY.

I am certainly not talking about food and sustenance here. When I say hungry — I mean eager and driven. They know that what counts are the results. Not exactly money but the result of being able to create things and help people. The money will certainly follow but they aren’t hungry for that.

You are starving for action and you are always eager to continue the voyage. There is no final endpoint for the New Generation Millionaire. There is only the journey. I don’t want this to become a ‘motherhood’ statement for you. Just remember that if you are not doing something you are not accomplishing anything. Your urgency to act should not come from pressure but more from personal hunger.

ACTION ITEM – List one thing that you are extremely passionate about and think about how you could make money out of it using today’s technology.

Inspiring Thought No. 3 – New Generation Millionaires are WELL-INFORMED.

There is an abundance of information out there and it is up to you to keep yourself ‘up to speed’. I am a big believer in education. I took post-graduate courses in business but you don’t exactly need those degrees to earn good money. 

Knowledge is important and New Generation Millionaires have no limitations in the information. Thus, when I say well-informed, I mean that you are constantly improving your knowledge by consuming all the available information on that one thing that you are extremely passionate about. 

Well-informed also means not being easy prey for all the ‘scammers’ out there. There are many self-proclaimed gurus out there pretending to be experts on particular businesses – particularly for web-based businesses!

Don’t easily fall for those people. They charge you a significant amount of money for poorly crafted courses that they simply learned from another source for so much less — and in actuality, you could probably get the same learning using YouTube and Google. All you need is your mobile phone and an internet connection. Not all of us are born smart but it is unforgivable for us to not become well-informed.

ACTION ITEM – Use Google and YouTube to learn more about a business technology you plan to use to make money on your passion. 

Inspiring Thought No. 4 – New Generation Millionaires are HUSTLERS.

Not in a negative light but more of in an entrepreneurial sense. New Generation Millionaires are always on the lookout for opportunities to bring value to others — whether it’s selling an actual product or delivering a service.

Remember that there is always money to be made in everything. You can earn money by simply reselling an existing product or through supplying a completely new one. You can enrol in a course online and earn by applying what you learned or reteaching the course to other audiences. An 8 to 5 job should not prevent you from earning income from a side-hustle. This would obviously take additional time and effort at your end and that is why it is important that you are extremely passionate about what you will pursue.

ACTION ITEM – Get started with earning on the side by selling (even at a bargain) an old item you haven’t been and have no future plans of using.

Inspiring Thought No. 5 – New Generation Millionaires are BELIEVERS.

There is a better life and there is a better way. New Generation Millionaires do not believe in shortcuts but rather play the long game in creating a better life for themselves. All the skills in the world would be of no use if there is no mindset that carries it through.There is a bright future ahead and it is important that you continue pushing even through the most discouraging times. There is a higher purpose in all of us. 

As I said, it is not about the Money. The money will follow. Focus on the journey, on delivering value and continuous self-development. Believe in yourself and in the opportunities that await you.

ACTION ITEM – Imagine yourself in the future, describe yourself, your state of being and write it down

If you are still reading this then I would like to let you know of my sincerest gratitude of letting me become part of your life’s journey. I hope that I was able to provide you with simple insights that you found useful for yourself moving forward. 

Cheers to your career!

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Iks Reyes
Written By

Iks is a Pharmacy graduate from the University of Santo Tomas and has spent two decades as a Marketing Executive in the Pharmaceutical Industry. He has left his corporate career to pursue his passion for connecting and inspiring people - Publishing a book on Career Advancement, creating The Inspiring Leader social media community and hosting The Inspiring Leader Podcast. Visit his blog.

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