Financial Wisdom from Self-Made Millionaires: 4 Money Moves to Make Sooner

Title: Self-Made Millionaires Share 4 Money Moves They Wish They’d Made Sooner

Self-made millionaires may seem like they have it all figured out when it comes to financial success, but the truth is that their journey was not without its challenges. If you’re looking to make six figures and achieve financial freedom, learning from those who have already paved the way can be invaluable. Here are four money moves self-made millionaires wish they had made sooner, along with their advice for aspiring millionaires.

One common regret among self-made millionaires is not creating clear and specific financial goals early on. Jon Payne, CMO for Viking Mergers & Acquisitions, emphasized the importance of defining your financial goals to ensure that $1 million is enough to meet your objectives.

Another regret shared by self-made millionaires is not embracing calculated risks early in their journey. Abid Salahi, co-founder of FinlyWealth, highlighted the importance of balancing risk aversion with seizing promising opportunities and diversifying investments across a broader spectrum of assets.

Parting ways with a business partner is another regret expressed by self-made millionaires. Rob Basso, author of “The Everyday Entrepreneur,” emphasized the importance of buying out a business partner sooner, even if it comes at a higher cost, to avoid the negative impact of a bad partnership.

Lastly, self-made millionaire Noah Lydiard, founder and CEO of Conductor, regretted not saving and investing as much as possible early on. He emphasized the importance of making small sacrifices now to reap big benefits in the future through consistent investing.

For aspiring millionaires, the advice from self-made millionaires includes working backwards to determine specific financial goals, cultivating a millionaire mindset that prioritizes long-term goals over short-term indulgences, and beginning to invest consistently as soon as possible to take advantage of compound interest.

By learning from the experiences and regrets of self-made millionaires, aspiring millionaires can better navigate their own path to financial success.