How to become a millionaire in India before 25 – 10 Powerful Tips

How to become a millionaire in India before 25 if you are asking this question that means your age would be around 18 -20 and it’s a pretty good mindset actually.

No problem if you are in any other age group because you also have a dream to become a millionaire. But before we dive into how to become a millionaire you need to know some stuff before that.

Who is considered a millionaire?

Basically, if someone’s net worth is around millions that person is called a millionaire. Networth = Total Assets – Total Liabilities. You can find out your net worth by using this formula.

How much money do you need to call yourself a millionaire?

Well, I know all these questions are basic but most people even don’t know the answer to this question so try to understand me.

1 million = 10 Lakh. So many have misconceptions that if they have 10 lakhs rupees that means they are millionaires in India which is wrong.

But the calculation is done on the basis of USD million yeah sad to hear that but it’s true. So when we talk about millionaires it is USD millions. I hope now you got it.

1M$ = 8,35,06,000.00 Indian RupeeIndian Rupee Till date (05,July, 2024 )

That means you need 8.35 crores in Indian rupee to actually be counted as a millionaire. After seeing this many will be shocked. Don’t worry I am here with a solution just go through the article I am sure you will get an idea of how to become a millionaire.

Things to keep in mind if you want to become a millionaire.

I know you will say I need to know how to become a millionaire so in order to know that is it important to read this point. Yes, it’s important to have a proper mindset at the beginning so that you can achieve your target.

1. Have a self-belief in yourself that it is achievable and practical.
2. You have to make yourself ready to face the challenges.
3. If you can work day and night for years if needed then congrats.
4. Might you have to work while others are enjoying or doing a party.
5. You have to take some risk(calculated).
6. People will try to put you down but you have to have laser sharp focus towards your goal.

How to become a millionaire in India before 25?

1. Mindset
2. Know where you stand
3. Clear all debt
4. Create a roadmap
5. Invest in yourself
6. Level up your skills
7. Start saving and investing money
8. Do side hustle
9. Surround yourself with the goal-oriented person
10. Repeat

1. Mindset

The first thing that is important if you seriously want to become a millionaire is your mindset. First, it comes to mind then it becomes reality. My all-time favorite line. So make your mindset so strong, so positive, and so practical that you are ready to achieve.

Consciously or unconsciously if you are not ready for that thing sorry my friend you are not going to get that thing or say anything in the world. So get ready with your mindset first.

2. Know where you stand

Becoming a millionaire is a good choice. But you need to have a practical approach toward becoming a millionaire. Listen now you got it you need 8.35 crores to become a millionaire.

Now calculate your net worth. What is your current net worth, how much money do you have whether you have lots of assets or lots of liabilities? Are you in debt or whatever first know exactly where you are, then you can go anywhere.

3. Clear all debt

Once you know your position. If you think that you have some debt clear all that first. Because you don’t want that debt to be with you always.

Yeah, I know everybody wants to live a debt-free life. So try to clear all debt first as soon as possible otherwise the interest will not give you space to enjoy your life.

I know you are in your early 20s you don’t have debt. But some students take education loans or other loans so I am talking about them.

4. Create a roadmap

After you are done with all the points now you can start your fresh journey with no debt nothing etc. Make a proper plan about how much money you need according to your current position, how much interest you need to get to achieve that amount, or how much money you will save and all that.

Which assets will provide you with good returns? Try to focus on creating more and more assets and minimize the liabilities column.

5. Invest in yourself

Many people invest money in the stock market, bonds, or whatever but the one thing that they forget to do is invest in themself.

Listen investing in yourself will give you infinite return which no other investment option can give you that much return. Invest in your health not only in wealth. Focus on both. In the end, health is wealth.

6. Level up your skills

Start consuming content regarding finance or personal finance or content that upgrades your skills. Okay, so it becomes very important if you are in that drive to achieve that financial freedom or you want to become a millionaire by the age of 25.

You need things that help you to level up because you don’t know everything. So you need to learn many things simultaneously.

7. Start saving and investing money

It is not an option it is a compulsion. It is in your hand how much amount of money you want to save or invest. The key is to start saving more and start investing more to become a millionaire. If you want to retire at 60 no problem don’t do anything but if you want to become a millionaire in 5 years so you have to do this.

8. Do a side hustle

Listen I know and you too know that only one income source is not enough to become a millionaire at an early age. So you need to do a side hustle in order to generate an extra amount which you can invest that amount. So that you can get a good return.

9. Surround yourself with the goal-oriented person

Your network is your net worth. If you don’t believe me go and check your net worth simply and your network also. People you hang out the most or you spend your time most.

It’s very important that you spend your time with the person who tries to push you, upgrade your skills always that type of person you need in order to achieve your goal okay.

10. Repeat

Becoming a millionaire is not a 1-day game. You have to understand and fit this in your mind. If you want to become a millionaire seriously you need to work hard day and night and repeat. Repeat every day, every week, every month, every year unless you achieve your goal of becoming a millionaire.

10 Ways to become a millionaire?

Listen these are some of the 10 ways to become a millionaire not only way okay. You are free to follow any other way if you think you can become a millionaire by following any other ways.

1. Stock Market
2. Content Creation
3. Freelancing
4. Affiliate Marketing
5. Dropshipping
6. Amazon FBA
7. Becoming Author
8. Selling Courses
9. Real Estate
10. Business

1. Stock Market

I know stock market options can be not for those who don’t have much money. But this is for those who can invest some money by doing proper research. There are lots of examples where people make millions and become millionaires from the stock market. It can take time. Another important thing is that you should have proper knowledge of the stock market otherwise your money will be in danger so invest your money and don’t do gambling.

2. Content Creation

This is a popular career option in today’s digital world. Content creation is already growing very fast day by day. There is no doubt that content creation has lots of amazing career options and potential too. Bloggers, Youtubers, Instagram Creators, etc. create a huge amount of wealth by providing valuable content to their audience. Many examples show that people are becoming millionaires from content creation.

3. Freelancing

Freelancing is a wonderful opportunity for the person who is looking for a job. The best advantage of freelancing is you ask the client how much pay per hour you want. But you have to give that value also. You need to have skills in order to make money on freelancing. Getting the first order can be tough but don’t lose hope. Once you know and have a proper command of your skills you can start your freelancing journey it’s free to start.

4. Affiliate Marketing

Well, affiliate marketing is basically what everyone does. Yeah, you heard it right. Many times our friends or relatives ask for recommendations while purchasing a phone. We suggest the phone and they purchase it and they become happy. But the problem here is that you don’t get a single penny by doing this. While doing affiliate marketing you have to do the same but you get paid for every referral.

5. Dropshipping

Basically dropshipping is a business model which helps to sell a product without having physical products. You don’t have to have any inventory to start this. One can generate easily 20-40% profit. Yeah, you need time and expertise to get that but it is achievable and you can open the door of becoming a millionaire.

6. Amazon FBA

Amazon FBA stands for Fulfillment by Amazon. In this, you have to store your products and the rest thing will amazing will do. In short, you can make as much money by Amazon FBA. Note that have a good quality of products so that your customer will love to purchase other times from you.

7. Becoming an Author

Well, seriously speaking people love to have an author on stage for any function. Why when you look at the author you instantly get in mind that they have a PhD on a particular topic. Seriously to have so much knowledge on a particular topic is mind-blowing. But many people don’t know it is the best way if you want to become a millionaire you can have your own copies of a book.

8. Selling Courses

No doubt people are making tons of millions by selling courses. The only thing is that you have to do a detailed course on a particular topic. But don’t break the trust of the audience by providing a course that doesn’t have any value. Keep in mind my words that it takes time to make money but it hardly takes a second to break the trust. So it’s important to make money wisely with good intentions.

9. Real Estate

Again this needs lots of money. But you can’t deny the potential of real estate. Having a property is a very good investment option but it also unlocks the opportunity of becoming a millionaire and billionaire. Yes, not joking. But it is true.

10. Business

I know running a business requires lots of risk and money but if you can start your own business and scale it up to a large level. No one can stop you from becoming a millionaire. Again saying running a business requires lots of risk and dedication but you can’t deny the power.

If you ask me one question on the road of how to become a millionaire in India before 25 what is the most important thing that will help you I will say 2 things.

1.Books

Reading books will help you to get closer to your goal of becoming a millionaire. If you seriously want to make crores of rs in a few years you need to get the help of personal finance books that will help you to make as much money as you want.

Hardly all these books are from the price range of 5 to 15 $ and it has the power to give you a million $ in return if you implement the lessons which are taught in these books. For your convenience, I have listed down the best 5 books that personally helped me and millions of other people too to gain knowledge and money. You can go through it if you want.

No doubt you can check now if you are lucky you can get the book at a much more less price because of the offer that is going on right now.

Best book to become a millionaire in 2024

2.Mentor

Listen if you want to become a millionaire in less time then it is a must that you should have at least someone who can guide you otherwise you can’t even become a millionaire before 60 also. So it’s highly important that you have one mentor so that they can help you and easily you can become a millionaire before 25.

What if you don’t become a millionaire by 25?

So what happens if you don’t become a millionaire by 25 you will become a millionaire by 30, 35, or 40, or whatever age you will become? The question is to become a millionaire it’s not about how early you become okay.

Many people don’t even get near to millionaires. You should be happy that you achieved that. It will be a proud moment for you and your family when you will become a millionaire.

Why do people fail to become a millionaire?

People don’t have proper planning or you can say that in 1 line they quit.

FAQ’s

Read More

1. Money traps
2. Reasons for leaving the job

Thank you for reading. I hope you like the article on how to become a millionaire in India before 25 and I also hope your financial journey goes smoothly. Don’t forget to share because sharing is caring.