Want To Become A Millionaire In No Time? Here Are What 3 Top-Class Financial Planners Have To Say

It is excellent to be obsessed with building a significant net worth, says Robert Kiyosaki, the author of the bestseller Rich Dad Poor Dad. “Money only comes only to the pockets of those who want it,” he argues. But the main question remains: Who doesn’t? Well, we all do. However, the problem is we all lack in saving our hard-earned money. From having no proper financial strategies to spending extravagantly, cash always flows out the moment it comes into the wallet.

*Tima / Pexels / Start saving money while you earn less; it is impossible to save when you earn more. suggest top-class financial planners.*

Do you want to cast a stone at this uncontrollable cash flow? To answer this complex question, we reached out to 3 top-class financial planners. From Katherine Fox to Scott Turner, here is what these three top-class financial planners have to say:

Make a Specific Saving Percentage and Stick to it

“You just can’t be a millionaire if you earn $1 million a year and spend $1.5 million,” said Scott Turner, when we asked the question of becoming a millionaire. The founder of Rockstar Financial argues that you will have to spend way less than your earnings. Overspending will never take you out of the trap of being broke. You really need to align your expenses and keep them below your earnings.

Scott further asserts that you will almost always fail to outearn your bad spending habits. So, you need to underspend your earnings and make a specific saving percentage for yourself. Once planned, stick to it, no matter what.

Pay Off Your Debts

*Mikhail / Pexels / According to financial planners, paying your bills on time and being debt-free unleash the pathways to becoming a millionaire.*

This may sound like an unpopular and contradictory opinion about becoming a millionaire. You might be thinking: How can I become a millionaire by paying off my debt? “Debt is stealing off your entire future’s money,” said Jay Zigmot when we asked this question.

The CEO of Childreefree Wealth, Zigmot, suggests paying off all your consumer debts should be your foremost priority. Ultimately, a debt-free saving will give you a pathway to becoming a millionaire.

Choose Tax-deferred Bank Accounts

“Where you save your cash is as equally important as how and how much do you save,” said Katherine Fox, when we asked the young financial planner for a tip about becoming a millionaire. “Taxes are insane, and they drain out all of your money,” she said.

*Pixabay / Pexels / Choosing the best bank account type is one of the foremost decisions for financial stability.*

Furthermore, Fox suggested that tax-deferred bank accounts like Health Savings Accounts and 401K plans are handy to save you enough money. Likewise, a taxable trader account will also efficiently serve you in placing your additional savings.

Apply the above-mentioned three expert tips to your financial stability today, and see yourself on the pathway to becoming a millionaire. Keep in mind that consistency is the only key. After all, it is tiny bad spending habits that are constantly draining away the cash from your pocket.