Becoming a self-made millionaire in my 30s was a major milestone, especially for a Latina daughter of immigrant parents who never learned anything about stocks, investing and building wealth.
Looking back, there are several things I wish I’d done sooner and I’m sharing this to save YOU time in your journey….
1. Invest 30% of My Income
If I could turn back time, I would’ve started investing a larger portion of my income much earlier. Instead, I was only investing 10% and the rest would be eaten up by bills and useless spending.
When I realized I wasn’t saving enough for my son’s college, I forced myself to save more and even when I got to my goal I kept saving that amount because I knew that it was possible. It was unbelievable how fast my investments grew!!
2. Join a Mastermind
Being part of a mastermind group was a game-changer for me. Surrounding myself with like-minded individuals who pushed me to think bigger and hold me accountable was invaluable.
3. Find Mentors
-S.J.R
4. Let Go of My Fear of Losing Money
I spent too much time being overly cautious, afraid of losing money. Why? Because the little girl in me, who grew up poor, was still making decisions in my adult body. I was terrified of losing what I FINALLY had accumulated. When I realized the little me was still making decisions, I began changing my financial patterns.
While it’s important to be smart with your finances, you also have to take calculated risks. Keeping too much cash on hand was a missed opportunity to grow my wealth faster.
5. Invest More in Personal Growth
The best investment I ever made was to invest in my mind. I would make it a point to go to 2 personal growth events every year or to work with a coach.
I would read at least 12 books a year and take copious notes. I wish I would’ve known this in my 20s! Your mindset is the foundation for everything else, and without a strong, growth-oriented mindset, success is much harder to achieve.
6. Have a Clear Purpose Behind Every Happy Hour
Socializing is important, but being more intentional about it gave me direction around what I was doing socializing with this person rather than just saying ‘yes’ to every invite.
Having a clear purpose behind every networking opportunity or happy hour is intentional living — Am I here to build this relationship? Learn something new? Find opportunities? Inspire someone? Be inspired? Know why you’re taking 2 hours of your day to spend time with that person.
7. Ask Specific, Intelligent Questions on Dates
Dating is important, but it’s also time-consuming. I began being more strategic with it when I noticed the time I spent on a date, I could’ve spent with my son, or building my business, or reading a book to expand my mind. Asking specific questions to ensure the person aligns with your values and ambitions is essential. After all, time is money, and wasting it on the wrong people can hold you back.
8. Hire a Financial Advisor
Even though I’m a financial advisor myself, I realized the value of getting a professional perspective from a colleague. We all have blind spots, and a good advisor can help you see them and stay on track with your goals.
9. Look at Spending as Liabilities vs. Assets
Every dollar you spend is either working for you or against you. Viewing my spending through the lens of liabilities vs. assets helped me make smarter financial decisions.
Also, keep in mind that TIME is an ASSET. You get paid by a corporation or a client for your TIME. the more money you spend, the more time you need to give to get that money back. Think about that for a moment.
10. Stop Waiting for the Perfect Moment
There’s no such thing as the perfect moment. Waiting for everything to be ‘just right’ is a waste of time. I’ll talk to an advisor “when I have time”, I’ll tell that person I love them “at the right moment”, I’ll enjoy my life “when X happens”. Stop. The perfect moment IS THIS MOMENT.
11. Most Important: Seek God’s Wisdom
I spent too much time relying on myself and my own understanding. Seeking God’s wisdom has been the most important shift in my life. Trusting in His guidance has brought me peace and clarity that I wish I had pursued earlier.
As you grow, so should your financial strategy and mindset. If you look at your life right now and are not where you want to be, then something needs to change. Reach out if you need some direction HERE and Join our Money Mindset Tribe to get market updates HERE!