Contrary to popular opinion, some teen do understand what they want and they keep working towards it.
As a case study, Joe Clarence & Jocelyn Calista award-winning young entrepreneur , right from age 6, began to earn money by creating different cartoon characters that help to enhance the uniqueness and the beauty of their products.
Becoming millionaire is in particular easier for teens and they can learn how to easily become millionaires in record time, should they understand how, from an early age.
While they were young, the 11-years old entrepreneur of Franchise Mall Group, Joe Clarence & Jocelyn Calista, started off their business with the help from their parents at the age of 6. They are both now the Chief Marketing Officer and the Chief Financial Officer for Franchise Mall Group.
These award-wining kids are smart and intelligent, also have the right skills needed to run the business. They have also developed their business quite well and now, aim to serve globally.
For teens to become a millionaire, they need to:
- Change their mindset:
It will be difficult for teen to be millionaire unless their mindset is first dealt with. They need to change their mindset from one of poverty and scarcity to millionaire, and this begins by feeding their mind with prosperous images.
- Learn to invest:
Investing is very easier than you think. As a teen, you need to put the power of compound interest to work.
Although you may be an average student, you can still be a genius by always putting a little aside. Once you have the money to invest, you need to be educated and you can as well choose a financial adviser to teach you.
- Examine your self-confidence:
If your self confidence is low, this is the time to build it up. Good self-confidence and High self-esteem are very important traits to assist you on your way. However, do not let this hold you down. You can assume to have it until you make it.
The more you put your confidence into practice, the sooner it becomes part of you.
- Be taught not to touch their investments:
Teen should learn not to touch their investments until it is a million or more. With this, they can retire and live off the principal. The million left untouched can support them for many years.
If the investment grows at 15%, they can live off 10%, and reinvest 5% of the interest.
The beauty of living a financial life is teaching our teens how they can become millionaires and be financially independent. Let us encourage them on what they love while they live a life of integrity. Also, they need to surround themselves with already-made millionaires, find a relevant mentor and seek advice.