When he first graduated from the University of Chicago, Grant realised a shocking truth about his bank account- he only had $2.26.
(I bet you need to kiss your Bubble tea and Starbucks goodbye!)
Broke and jobless, this is a huge wake-up call for the now 31-year old. “I took a screenshot of my bank account and made it a personal goal to have $1 million in assets in 5 years time.”
Fast forward 5 years, Grant finally hit his 7-figure mark:
Here is his journey.
- Phase 1
Grant managed to land a Digital Marketing job that pays him $50,000 a year. However, by saving 5 to 10% of his income is not going to get him to where he wants. Thus, he starts a side hustle by building websites for people.
- Phase 2
His first gig was priced at $300 for a law firm. Slowly, he went from referrals to referrals and his service charge went from $300 to $5000 per engagement.
- Phase 3
After hitting his first $100,000 gig, he quit his job and focuses on growing his consulting business. He also started a blog Millennial Money that focuses on helping millennial to achieve financial independence. Five years came, and he finally hit his $1 million dream.
But how? Grant outlined 5 tips to earn your first million.
- Always ask for what you are worth for
- Make a commitment to save a ton of money….and put it to work
- Develop multiple streams of income to build wealth, not be rich
- Invest in what you are familiar with
- Monitor your finances every day and track your spending habits
The conclusion is, YOU NEED TO DO THE WORK! Nothing comes to you if you are not willing to put in the work…like what Gary Vee said:
Credits to CNBC for the story.