Good Lifestyle

Look around social media these days and you will notice a major trend - Self-fabricated millionaires Sharing the secrets to their success. Chris Choi is a perfect example. He said he became a millionaire at 26 and "financially free" at 30 by building a flourishing airbnb empire. More recently, the entrepreneur and content creator went to Tiktok to share his best money advice for others hoping to do the same.

Choi says that there are a few key ways to put you on a wealth - and that they are all relatively easy to do. Here is how to change your life and your finances into three simple steps, according to the self -taught multimillionaire.

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Choi's first advice is applicable to people from all financial backgrounds. He says you should always live below your means, whatever the amount of income.

The key, he says, is to stop buying "stupid" things. "If you do not earn more than half a million dollars a year, you should not drive a German car. I should drive a Toyota or a Hyundai. In addition, you should not wear any LV, Gucci or Diors. Instead, you should wear H&M or Zara, "he said in a recent Tiktok Post .

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Then, Choi says "You have to find a way to make money in your sleep. If you don't do that, you will have to work until your death."

Although this is of course easier to say than to do, Choi recommends creating a passive source of income by investing in real estate - and argues that you do not necessarily need to own your own home to start enjoying .

"Nowadays, you don't need a lot of capital to invest in real estate," he said in the position. "You can start by using a strategy called rental arbitration."

It was Choi's own method to build wealth, he explains in a Tiktok video . Starting with $ 8,000 in capital, the entrepreneur has strategically invested in rental apartments and asked the owners to rent them on Airbnb. He then provided the apartments and supervised the sub-lecture, making a profit in the process.

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Third, Choi says that your state of mind has everything to do with your financial growth. In particular, he says that you have to "become a counter city" to earn money. "Stop following the crowd. People who walk alone are usually those who go the most distant from life," he said.

It seems to line up with Warren Buffet is famous Investment advice "To be afraid when the others are greedy and to be greedy only when the others are afraid."

Being daring and making financial decisions suitable for you could reimburse in the long term, the two support.

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In a separate article, Choi shares that there is another " change of mind “You have to do to build wealth. He says you need to disillusion that you can only become a millionaire if you already have a lot of money.

Although it is undoubtedly easier to build wealth when you have a financial security basis, Choi says that more than 80% of millionaires are manufactured self-fabricated (a study by Fidelity Investments Corrobore this figure while others dispute it, putting the percentage much lower at around 27%).

"Lack of money is not your problem. Lack of money is only a symptom of what is really going on under you. Under you, there is probably financial illiteracy, bad habits, The lack of self-esteem, lack of confidence, "he said.

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