Becoming a millionaire today is fairly easy thanks to the internet and the value investment opportunities out there.
Investing is yes about buying the right stock. But even more important is to find the money to buy the right stock. In this video I want to share my personal story that got me far away. I’m very well off but I’m a normal person. I did this I did it slowly, normally piece by piece.
With a fellow investors I recently made a video about the dividend growth stock investing. Now, this triggered me to do a video on how to make more money because I think that if you are proactive, if you look for opportunities if you want to grow in life, the results the return on investment is exponentially instead of looking for bargains looking for cheap stuff looking looking for discounts because that’s what you get them in life and by sharing my story
Welcome to our latest issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback! Featuring Point72 Asset Management losing about 10% in January, Millennium Management on a hiring spree, and hedge fund industry's assets under management swell to nearly Read More
Background on becoming a millionaire
I come from a background that 95% of you watching this now have it and had it much better by sharing my story and the five steps that really helped when you invest and you think, and you live your financial life for the long term can really make you millions with small, small steps. In this video, I want to discuss my background. So when I discuss my background, you’ll see that yours doesn’t really matter.
That’s the motivation I hope to give, then we’ll discuss why need to have patience, why need to start now, why a side hustle is very, very helpful and makes you much more than to look for small discounts. And the key thing of investing constantly, even if it’s small amounts, because the opportunities will be there. And when those come, you have to take advantage of them. Let’s start so I was born in a communist country.
In the Eastern Bloc, the former republican Yugoslavia, the country didn’t even have a stock market. So no stocks. It was a communist country. I was born there, English wasn’t a priority, nothing. So compare that living in the country with no stock market to the United States of America where the stock market has been existing since practically the country was formed. So $1 invested in 1800s is now more than 700,000.
Compare that to no stock market, little private ownership, where I come from to add to the picture from when I was eight to 14, there was a war in my country. This picture is Dubrovnik, the famous walled city now a mecca for tourists. But 25 years ago it unfortunately looked like this. Now it looks a little bit better this and this but that is what tourism brings, and fortunately is all well and save now but just gives you this gives you perspective on background.
Then, my salary as a high school teacher from when I was 24 to 2829 was about $700 a month, you can do much on debt. So in 2013, we decided to explore the world move from low income country to a higher income, come three and see how it works. I went to London, started looking for jobs. And then I figured out that I can speak English the first job interview I went, I got the piece of paper with 20 words to check the spelling.
They never called me back my English was terrible. But then fortunately, after 1200 job applications, I got the job at Bloomberg because I spoke Italian and Slavic languages, not for the English, but this allowed me to learn more and more English. Then we decide that London was too crazy on my journey to becoming a millionaire. We moved to the Netherlands where I got another teaching job as an assistant professor at the Amsterdam School of International Business.
This I was teaching accounting and finance. And suddenly from the 700 per month, I went to 70,000 per year. So 10 times my income, almost. But that’s not all. However, this is really the message that if you’re flexible in your life, and if you look for opportunities if you dare to search, and I bet there are a lot of young people watching this, if you dare to explore, be flexible, you can really change a lot in your life, then you can always come back, but with a huge experience and a nice bag of money further, when you get to such a country when you start getting money.
Become a millionaire by not doing dumb stuff with money
Don’t do dumb $hit with the money, don’t buy dumb shit, because I see a lot of people, my colleagues or my colleagues when I was working at Bloomberg, which weren’t paid a lot, it was an entry level job. It was there for the experience, but they would run out for lunch and spend 710 11 pounds on lunch every day. 10 pounds $10 a day if you spend it on Starbucks or something
Money acumulates over the long term, and is enough to make you millions and you’ll see more about that later. So, in 2014 when we moved to the Netherlands and neither the car I bought the Hyundai XL accent, however you want to call it I paid 600 euros for that on my journey to becoming a millionaire. We had it for two years, we made 50,000 kilometers with it. Everybody was looking at me on the street moving away from me because they were scared that I scratched them or something.