Chris Land, with 9 years of experience as a UK pension specialist and licensed financial advisor, is here to help you make smart financial decisions to grow your wealth. Chris is part of Globaleye, a renowned international financial advisory firm with a strong presence.

So, you’re in your 30s and have a decent job, but maybe you’re wondering how to become a millionaire by the time you’re 40. Here’s a practical guide to getting there:

1. Evaluate Your Earnings and Make Bold Decisions
By now, you’ve been in your career for about a decade. Take a hard look at where you are and where you’re heading. If your current path seems to lead to success, keep pushing forward. But if you’re not making progress, it’s time for a change. Remember, doing the same thing and expecting different outcomes is futile.

2. Prioritize Yourself as Your Top Client
Think of yourself as your most important client. Before putting extra hours at work, consider if it will truly benefit you. Would networking or starting a side business be more profitable? Use some of your time to invest in your personal and professional growth.

3. Control Your Expenses
JP Lemann, a self-made billionaire, emphasized controlling costs because it’s within your power. Take a minimalist approach to your expenses. Determine the bare minimum you need and invest the rest. This strategy doesn’t require deep financial knowledge—just discipline.

4. Invest Rather Than Just Save
Simply saving isn’t enough anymore due to inflation and fees. To grow your wealth, you need to invest. Look into stocks, real estate, and business ventures. Educate yourself or consult a financial advisor to make informed investment decisions.

5. Leverage OPM (Other People’s Money)
Consider using borrowed money to invest, especially in real estate. For instance, a mortgage can be paid off with rental income. While borrowing does come with risks, it can significantly boost your investment returns.

6. Consider Entrepreneurship
Many wealthy individuals own their businesses. Unlike salaried jobs, running your own business has no income cap, though it also comes with risks. Evaluate if starting a business aligns with your skills and risk tolerance.

7. Marriage and Financial Partnership
Married couples often have lower combined living expenses. Additionally, a spouse with a similar financial mindset can double the household income and help in frugal spending, aiding in wealth accumulation.

8. Reflect on Your Motives for Wealth
Understand why you want to be wealthy. Many billionaires admit that wealth didn’t bring proportionate happiness. A comfortable life might not require millions by 40; achieving financial goals in your 50s while enjoying life could be more fulfilling. Reflect on whether aggressive investing and giving up a steady income are worth the risks.

If becoming wealthy by 40 is your goal, these strategies will help you focus and get there. Good luck!