Fri. Jul 19th, 2024

Experience of getting rich of 27 year old millionaire

Experience of getting rich of 27 year old millionaire 3
Experience of getting rich of 27 year old millionaire 3

Anton Ivanov is not a typical millionaire.

Ivanov created his million-dollar fortune in a very classic way.

`I am proof that if you really want something and always work for it, you will achieve it sooner or later. It is the habits and principles that have made me rich,` he said on Yahoo Finance

Anton Ivanov has been planning to become a millionaire since he was 16 years old.

10 years ago, Ivanov was like other teenagers in America – studying in high school and working part-time at a fast food chain.

But Ivanov soon realized that his neighbors all seemed to be much richer than his family.

`At school, we weren’t taught much about finance. My parents didn’t talk to me about money either. Everything I wanted to know I had to learn on my own,` Ivanov said.

He really likes books on how to get rich.

`This book is extremely influential to me. Not only is it a normal book about getting rich, it also helps me build a vision and mentality to be able to achieve anything I want,` he said.

He opened a savings account at the bank and put all his part-time money there for 3 years.

So, when his friends enrolled in college, Ivanov celebrated his 18th birthday with a retirement savings account, then went to work some administrative work near home.

`When comparing going to school and joining the army, the second choice seems more reasonable. Because I will earn money right away instead of waiting until I graduate. I can also go to school for free,` he said.

Ivanov also opened a stock account to invest.

Ivanov poured into the market 40,000-45,000 USD every year, until the 2008 financial crisis broke out.

Later, influenced by the books `Millionaire Real Estate Investor` and `The Millionaire Next Door`, Ivanov also wanted to pour money into real estate.

In 2009, Ivanov only spent $80,000 on a $400,000 apartment in San Diego.

`I believe in taking wise risks. If you see an opportunity and think it’s right, you should take it. But understand that you can still be wrong and be prepared for the consequences.`

Ivanov hopes to have 10 properties in hand by the time he is 40 years old.

Always saving 60% of your income is very admirable for Ivanov, if you know the average American only sets aside 5% of his or her income a year.

In 2013, he was discharged from the army and continued to live frugally to save money for investment.

All expenses, from monthly gym fees to his planned wedding in 2016, were planned and saved in advance.

`Usually at the beginning of the year, I plan for the next 2-5 years. I write down all possible expenses and calculate how much I need to save each month to reach my goal on time,` he said.

Ivanov reached the $1 million mark in assets in June this year, just 2 months before his 27th birthday.

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