This is the fastest way you can make more money, says Millennial Money founder Grant Sabatier. In 2010, Grant Sabatier, then 24, had only $2.26 in his bank account. It wasn't even enough for him to buy lunch at Chipotle. He knew things needed to change, so he set a goal for himself on the spot: Earn $1 million and retire as early as possible.
And he did it: Sabatier boosted his income to more than $300,000 per year and managed to save around 80 percent of what he brought in, which he invested in the market.
Only five years, three months and six days later, Sabatier reached his goal with more than $1.2 million saved. That was in 2015.
While beefing up his savings rate was a key part of Sabatier's success, he says his best advice for building wealth quickly is to focus on increasing your income. And the first place to look, he says, is at the work you already do.
"Start with your full-time job. You want to be making as much money as possible in your full-time job," says the 34-year-old Millennial Money founder and author of "Financial Freedom: A Proven Path to All the Money You Will Ever Need." "In reality, most people are probably leaving a lot of money on the table."
First, make sure you're taking full advantage of all the benefits your company offers, including hidden health care perks or a 401(k) match, which is basically free money.
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Millennial Millionaire: Here's How To Build Wealth Fast