No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Wednesday, October 29, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

How To Become a Self-Made Millionaire on a Low Salary, According To Humphrey Yang

by TheAdviserMagazine
5 months ago
in Business
Reading Time: 3 mins read
A A
How To Become a Self-Made Millionaire on a Low Salary, According To Humphrey Yang
Share on FacebookShare on TwitterShare on LInkedIn


Former financial advisor and current investing influencer Humphrey Yang is known for taking complex concepts and making them easy to understand. In a recent YouTube video, the money guru gave tips on “How To Be a Millionaire on a Low Salary.”

Check Out: 6 Wealth-Destroying Mistakes People Make Every Day Without Knowing It

Learn More: These Cars May Seem Expensive, but They Rarely Need Repairs

Here are his 4 pillars of personal finance that can help you become a millionaire without a large income.

The first pillar of personal finance is frugality, according to Yang. He explained that frugality is not to be confused with being cheap. Instead, he urged hopeful millionaires to think of it as “ensuring every dollar has a place.”

Yang noted that since every dollar matters, he is always trying to get the best deal possible, saving where he can by using rewards apps at fast food restaurants. Furthermore, he encouraged those watching to “focus on how much you save, rather than how much you make.” In other words, a high income does not equate to wealth, since you could be spending a large portion of your money and only investing a small amount.

Try These: 10 Genius Things Warren Buffett Says To Do With Your Money

Yang’s second pillar of personal finance is investing. The personal finance influencer recommended investing aggressively. He cautioned, however, that this does not necessarily mean investing in aggressive holdings with high risks and returns. Instead, he said you should be “contributing to your investments as early as possible and as much as possible.”

Advertisement: High Yield Savings Offers

Powered by Money.com – Yahoo may earn commission from the links above.

While the idea of investing may seem overwhelming or intimidating at first, there are numerous resources available to help even the youngest aspiring millionaire get started. The Financial Industry Regulatory Authority (FINRA) recommends setting investment goals first, and then determining your investment timeline or when you will need your money. Working with a professional is strongly encouraged to ensure that you make sound investment decisions.

The third pillar is time. The earlier you start, the better off you will be once you retire. It is important to note that significant gains come at the end for compound interest. More wealth is created later in life if you begin investing early. Yang pointed to famed investor Warren Buffet, who has amassed a net worth of $158 billion. According to Forbes, the 94-year-old bought his first stock at 11 years old and was filing taxes by 13.

Yang credits Buffet’s massive wealth to “persistence, consistency, and living to 95,” and noted that he made “99% of his net worth after his 60th birthday.” He explained that compounding interest allowed Buffet to take the $3 billion he was worth at the age of 60 to the nearly $160 billion he has now.

The final pillar to becoming a millionaire on a low income is income streams. Yang sais that the majority of millionaires have multiple income streams. Having multiple sources of income can help to build wealth. He mentioned five different sources of income that most people have: earned income (your primary job), investment income, interest income, rental income and side hustle or second job income. Yang noted that while he does believe you can become a millionaire on a low income, it won’t necessarily be easy.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: How To Become a Self-Made Millionaire on a Low Salary, According To Humphrey Yang



Source link

Tags: HumphreyMillionaireSalarySelfMadeYang
ShareTweetShare
Previous Post

The Untold History of the Internet

Next Post

5 Eye-Opening Facts About Credit Reports

Related Posts

edit post
The CEOs of Apple, Airbnb, and PepsiCo agree on one thing: life as a business leader is incredibly lonely

The CEOs of Apple, Airbnb, and PepsiCo agree on one thing: life as a business leader is incredibly lonely

by TheAdviserMagazine
October 29, 2025
0

Being CEO has its many perks: Business leaders get to command the world’s most powerful companies, shape their legacies as...

edit post
Mastercard poised to acquire crypto startup Zerohash for nearly  billion, sources say

Mastercard poised to acquire crypto startup Zerohash for nearly $2 billion, sources say

by TheAdviserMagazine
October 29, 2025
0

Mastercard has its sights on another crypto company. The payments goliath is said to be in late-stage talks to acquire...

edit post
Yunus fears attempts to thwart planned Bangladesh polls

Yunus fears attempts to thwart planned Bangladesh polls

by TheAdviserMagazine
October 29, 2025
0

Bangladesh's interim government chief Muhammad Yunus on Wednesday said he feared forces "from home and abroad" to thwart planned general...

edit post
Coca-Cola Stock Is Already A Great Income Stock. Here’s How To Make It Better.

Coca-Cola Stock Is Already A Great Income Stock. Here’s How To Make It Better.

by TheAdviserMagazine
October 29, 2025
0

Coca-Cola (KO) is a resilient, dividend-paying consumer staples giant with a global footprint and strong brand loyalty. There's a reason...

edit post
Israeli web security co Reflectiz raises m

Israeli web security co Reflectiz raises $22m

by TheAdviserMagazine
October 29, 2025
0

Israeli web exposure management platform Reflectiz today announced the completion of a $22 million Series B financing round led...

edit post
Quess Corp Q2 Results: Revenue up 3%, headcount rises by 21,000

Quess Corp Q2 Results: Revenue up 3%, headcount rises by 21,000

by TheAdviserMagazine
October 29, 2025
0

Business services provider Quess Corp on Wednesday, reported its September quarter (Q2FY26 ) results, with revenue rising 3% year on...

Next Post
edit post
5 Eye-Opening Facts About Credit Reports

5 Eye-Opening Facts About Credit Reports

edit post
9 Surprising Health Benefits of Financial Stability

9 Surprising Health Benefits of Financial Stability

  • Trending
  • Comments
  • Latest
edit post
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
What to Do When a Loved One Dies in North Carolina

What to Do When a Loved One Dies in North Carolina

October 8, 2025
edit post
Another Violent Outburst – Democrats Inciting Civil Unrest

Another Violent Outburst – Democrats Inciting Civil Unrest

October 24, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
California Attorney Pleads Guilty For Role In 2M Ponzi Scheme

California Attorney Pleads Guilty For Role In $912M Ponzi Scheme

October 15, 2025
edit post
The CEOs of Apple, Airbnb, and PepsiCo agree on one thing: life as a business leader is incredibly lonely

The CEOs of Apple, Airbnb, and PepsiCo agree on one thing: life as a business leader is incredibly lonely

0
edit post
Will AI Kill the Corporation?

Will AI Kill the Corporation?

0
edit post
9 Best Financial Advisors of 2025

9 Best Financial Advisors of 2025

0
edit post
NVIDIA invests B in Nokia to build AI-powered RAN for the 6G era

NVIDIA invests $1B in Nokia to build AI-powered RAN for the 6G era

0
edit post
Why Advertising Coop Programs Still Matter for Manufacturers

Why Advertising Coop Programs Still Matter for Manufacturers

0
edit post
How to keep your AI use from violating industry rules

How to keep your AI use from violating industry rules

0
edit post
The CEOs of Apple, Airbnb, and PepsiCo agree on one thing: life as a business leader is incredibly lonely

The CEOs of Apple, Airbnb, and PepsiCo agree on one thing: life as a business leader is incredibly lonely

October 29, 2025
edit post
How to keep your AI use from violating industry rules

How to keep your AI use from violating industry rules

October 29, 2025
edit post
Japan’s Biggest Card Firm Joins The Network

Japan’s Biggest Card Firm Joins The Network

October 29, 2025
edit post
Why Nearly Half of Gen Z Now Buys Secondhand Monthly to Beat Inflation

Why Nearly Half of Gen Z Now Buys Secondhand Monthly to Beat Inflation

October 29, 2025
edit post
Mastercard poised to acquire crypto startup Zerohash for nearly  billion, sources say

Mastercard poised to acquire crypto startup Zerohash for nearly $2 billion, sources say

October 29, 2025
edit post
Yunus fears attempts to thwart planned Bangladesh polls

Yunus fears attempts to thwart planned Bangladesh polls

October 29, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • The CEOs of Apple, Airbnb, and PepsiCo agree on one thing: life as a business leader is incredibly lonely
  • How to keep your AI use from violating industry rules
  • Japan’s Biggest Card Firm Joins The Network
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.