Becoming a millionaire, and even wealthier, is the aspiration of many people, as it represents a person’s success in their career. Jonathan Sanchez, co-founder of the American financial website Parent Portfolio, shared five habits that led him to become a millionaire in his thirties.
Jonathan Sanchez, now 40 years old, was raised by a frugal single mother and developed a habit of thriftiness from a young age. Through wise financial decisions, he reached a net worth of $1 million by the age of 37. He now helps readers take control of their financial future and accumulate wealth for the next generation.
Reflecting on his journey, Sanchez shared the five key habits that helped him succeed.
For a long time, Sanchez believed that only a few could achieve wealth. But over time, he realized that true wealth is not just about how much money you earn, but also about how much time that money can buy for you.
Rather than obsessing over the dollar amount, he focused on cultivating assets that made his life more flexible, ultimately increasing his income in the process.
Our perceptions of money can sometimes hinder us. For example, having a negative attitude towards wealth can naturally deter us from opportunities to become rich. But where do these feelings come from? Are they nurtured by our parents or our environment?
Now, when Sanchez works with his financial counseling clients, he often asks these questions to help them identify the roots of their beliefs and reconstruct them.
For years, Sanchez believed that success required burning the midnight oil and working around the clock. However, he soon realized that this routine was unsustainable, leading to exhaustion and inefficiency.
Acknowledging his limitations and the importance of rest did not equate to failure. Instead, it enhanced his work performance, leaving him energized, clear-headed, and able to make better decisions.
Sanchez often attributes the growth of his wealth to his love for reading, which exposes him to new perspectives and skills.
Developing Parent Portfolio into a business has been one of the greatest joys of his life, opening up a whole new world for him.
He had to learn, often on the job, about recruiting, when to outsource, when to keep projects in-house, and how to cultivate strong partnerships.
Sanchez discovered that honing a popular skill that could add value to people’s lives was one of the best ways to earn more money.
When he first shared his work online, he wrote articles for free just to get his name out there. As demand for personal finance content grew, he leveraged his real-life experiences to charge higher fees.
Investing all the money he earned from writing for other platforms back into his website allowed him to achieve financial freedom.
Sanchez acknowledges the priceless value of having supportive people around him, as their encouragement has given him the courage to keep moving forward.
This is why he always expresses gratitude. Creating this website has helped him grow and opened more doors, all of which have contributed to his financial success.