Over a month ago, I wrote an article here on read.cash titled "Can I Become a Millionaire at the age of 22?" And today, I am writing an updated version of that article. I brought this question up before to myself if it is really possible for me to become a Millionaire at such a young age. For the foreign people reading this right now, 1 Million pesos is only equivalent to about $20,800.
The note "Goal (claim it!): Millionaire at 22!" that I wrote before on a sticky note is still on my study table. It is my daily motivation to work hard every single day.
So where am I now to becoming a Millionaire at the age of 22?
Again, technically speaking, I'm still aging 22 years old before my 23rd birthday. That means I still have up to December 21, 2022, or 693 days more for me to accomplish this challenge.
Realistically speaking, to become a Millionaire is kinda impossible to achieve. But I want to approach this optimistically so I'm going to claim it.
How am I going to become a Millionaire at the age of 22?
My Savings
As of this writing, I already have a total savings of 196,000 pesos. 4,000 pesos more until I close my 2nd 6-digit goal.
Needed Money
Since I already have my savings, I only need about 804,000 pesos to complete my first Million pesos.
Here are some of the possible options on where I'm going to get that money.
1. My Academic Scholarship
If I continue being an academic scholar until I graduate from college, I will still be able to earn and save 60,000 pesos from it, or 20,000 pesos every semester.
2. Freelance Writing Gig
I am earning an average of 2,000 pesos every 2 weeks or 4,000 pesos in a month on my freelance writing gig. If I continue being a freelance writer until December 2022, I will be able to earn 92,000 pesos.
3. Read.Cash and Noise.Cash
If these 2 sites continue to exist for the next 2 years and if I get to earn an average of $100 a month or about 5,000 pesos, I will be able to earn 115,000 pesos more from these platforms.
4. My Bitcoin Cash Earnings
As of this writing, I already accumulated a total of 1.58 BCH from read.cash, noise.cash, and lazy fox, which is about 28,000 pesos.
5. My Crypto Investment
Early this month, I already sold all of my Vitae because of FUD, which made me sell them at such a cheap price. If only I have held unto them up to this day, I could have sold them at a higher price. However, no regrets as I was able to diversify my crypto portfolio.
As of this writing, my crypto investment is valued at $5,300 or about 255,000 pesos, with a loss of $1,200 or about 58,000 pesos. I'm hoping that my coins will recover soon to break even with my capital investment.
The total of these possible options is only about 550,000 pesos. If I were to add it to my savings, it will only give me a total of 746,000 pesos. This means that I still need 254,000 pesos to reach my 1 Million-peso mark.
With this update, I feel like I'm progressing on my quest to becoming a Millionaire at the age of 22. However, I'm not pressuring myself with this one. I'm still young and I still have a long way to go.
To those who are wondering why I want to become a Millionaire at a young age. It is simply because I don't want to end up being so frustrated in my late 20s just because I did not start saving and working hard in my early 20s.
As you all know, I have a lot of goals and dreams not just for myself but for my family too, and for me to accomplish all of them, I need to have enough money. Though 1 Million pesos is not that much, it will be a way for me to achieve my other goals in life.
If you're still reading this, thank you for being a part of my 1-Million journey.
May all of our dreams come true. 💚
Grabe. Ikaw na talaga. Pangpatayo na namin NG bahay Yan 😂