Billionaire Chris Sacca Shares His Money Lessons for Millennials

Billionaire Chris Sacca Shares His Money Lessons for Millennials

Chris Sacca, a modern-day mogul, didn’t take a traditional path to success. Although he stumbled some along the way, these days he’s a financial role model to many millennials. You likely won’t end up a billionaire like Sacca if you employ some of the methods that have gotten him to where he is today, but taking a page from his playbook certainly can’t hurt.

Hard Work

 

Sacca has apparently never been afraid of a little hard work. When he was younger, he did well in school, working hard to get good grades.

 

He graduated from law school and began working as a lawyer. But his work life wasn’t all sunshine and roses after that. He was laid off a little more than a year after being employed as a lawyer.

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Odd Jobs

 

At various points in his life, Sacca took whatever jobs he needed to get by – even Craigslist and Elance work. He did what he had to do to earn cash.

Don’t Be Afraid to Switch Gears

 

Although he had a degree and some experience in law, he knew that wasn’t what he wanted to do. He could have stuck with it because he had a degree and could make a decent living. However, he decided to break free, taking a chance and switching gears with his career. That kind of move takes courage.

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He’s Owed Money

 

He’s been in the very same shoes as many millennials – he owed money. But he didn’t just have student loans to contend with, like many millennials do. Sacca had serious debt that could have been enough to crush anyone else. At one point in his mid-20s, he was four million dollars in debt.

 

Instead of feeling beat down by life and his enormous debt, he fought it. He paid it off and continued amassing his fortune, eventually becoming a billionaire.

He Gives Back

 

Sacca doesn’t close his eyes to the suffering of the rest of the world. He uses his wealth and name recognition to make a difference. While it might be easy for him to separate himself from the poverty of the rest of the world, he doesn’t.

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Sacca has traveled to Ethiopia for years making sure families there have clean water by building wells.

 

 

He Takes Risks

 

This world doesn’t reward the meek. You’ve got to crack a few eggs to make an omelet. If you aren’t willing to take great risks, you won’t get great rewards.

 

If you aren’t an investor like Sacca, you can assume risk in other ways. Move out of state to a more lucrative job. Or switch careers and try something new. Make radical changes, like downsizing your possessions and moving into a smaller place.

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The only thing that may be stopping you is your aversion to taking risks. We can be our own worst enemies at times.

 

 

The Value of Being Frugal

 

The man who now has more money than the majority of us will ever see in our lifetimes believes millennials should be frugal with their funds.

 

He encourages college students to be tight with their money so they can have more options and freedom down the road. There’s nothing worse than being stuck in a dead-end job because you need money to support the lifestyle you’ve created.

Be Your Own Person

 

Sacca wouldn’t have made it as far if he had attempted to be just like everyone else he encountered. He fought for what he wanted to do. He voiced his opinions and was true to his visions. It may not always be easy to do that, but, in the long run, it’s worth it.

 

 

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