If you haven’t heard of Corey Wadden yet, he’s the latest buzz in the online world. Who is Corey? Corey is a young go-getter with a big dream, to help his mom retire financially free by earning $1 million dollars by the time he is 25, hence, his website Millionaireby25.com
One of Corey’s goals through this journey is to create a documentary which will also be called Millionaire by 25. The documentary follows him on his two year journey to earn one million dollars from scratch. He begins by interviewing outliers and millionaires, and starts several businesses in order to reach the goal. With the money, he aims to financially retire his mom. You will learn how to tackle any big goal, monetary or not, by watching the documentary. Corey is in the process of raising money to complete his documentary through a crowd-funding campaign on indiegogo, with this documentary he plans on spreading the video through film festivals and eventually giving a portion of the proceeds to charity(ies).
What specifically inspired you to set the goal of $1 million by 25?
My mom called me and told me she was at risk of losing her job. We struggled financially growing up, and I was tired of seeing her live paycheque to paycheque and barely make ends meet. I was doing door-to-door sales at the time to earn money to fund my aspiring acting career and to help her out with bills. I figured a million dollars would be a good number to aim for, and I attached a two year deadline to it. I was turning 23 at the time, so the title became ‘Millionaire By 25′.
I understand that you were motivated by the need of wanting to help your mom retire at a young age. Where do you think others can find motivation the way you did when it comes to becoming financially free?
As odd as it sounds, the easiest way to find motivation is to avoid using money as a motivator. While that may sound contrary to what I’m doing, it’s not. My mom was my biggest motivator and money is a horrible long-term motivator. It can be a great short-term motivator. When aiming to become financially free, it’s better to focus on your vision as inspiration. Your vision is what you see the future holding for yourself, and those you care about. It can also be the vision of mastering your craft and seeing the results of that.
I think vision is a universal motivator that reaches beyond business.
Also, know that everyone has times of intense motivation, and times where they are not. That is normal. The biggest thing that helped me stay motivated was having public accountability. I highly suggest finding an accountability partner.
How big of a role does your mom play in your life?
We have a strong relationship, even though we don’t see each other that much. It’s something I’d like to change in the future. She taught me the power of being gentle, having empathy and seeing the silver lining in every situation. She also taught me strength. She’s endured a lot and persevered. I’d like to get closer with my family in Nova Scotia, as well.
How do you believe accomplishing this goal will change your life?
Being able to easy her financial stress and allow my mom to do things because she wants to, not because she has to. That will ease a lot of stress for me.
The businesses I’ve created, the knowledge I’ve gained, and the network I’ve built will no doubt create a big change in my own life, too. This challenge became my resume, and it’s opened up a lot of opportunities. The income generated after this challenge will help with my future career aspirations.
On top of that, it will attract like minded organizations, entrepreneurs and people to me. I’m very passionate about helping young people who do not have a lot of opportunity. I’m still looking into which avenues I want to take to make that happen. I’m hoping that my challenge attracts those mentioned above to reach out and see if there’s collaborative opportunities to make a positive change in the world.
We believe in the philosophy of modeling after peoples’ success, who are your biggest role models and how have they inspired you?
Well, growing up, I was raised on Movies and TV. I went back and forth between living with my father and mother. They separated when I was 5 or 6, and they were working a lot of the time, so I didn’t always see them. I turned to movies for inspiration. Shia Labeouf was someone I could relate to at a young age, because he came from a similar background. He has an inspiring story if you have the time to look into it.
I started looking to people like Marlon Brando, James Dean, Tupac Shakur, Farrah Gray as role models for various reasons in my late teens. Some names are controversial, but I used certain aspects of their character for inspiration. For instance, Tupac came from poverty and became the top selling rapper of all time. Marlon Brando is widely considered the greatest American film actor in history, etc.
When I started the challenge, I started looking at entrepreneurs as role models. My former CEO, Ben Stewart became a role model for me, because he had such intense dedication and unrivalled focus. Then, Tim Ferriss, because he seemed like an outsider who approached things in a different way.
There’s a bunch, I try to look at certain characteristics from each person and I also study people who weren’t successful to see which mistakes and pitfalls to avoid. I think it’s a constant process.
At FeelingSuccess we’re all about breaking down what made someone succeed, so far, up until this point, what lessons have you learned along the way that you did not know before going on this journey?
I do the same thing, I think the book Psycho-Cybernetics really touches on that nicely. For me, I’ve learned that you really have to take time to understand what it is that you want. If it takes you a month of doing nothing else but figuring out what it is that you want, it is the best time investment you could give yourself. People often waste years of their lives adrift, yet they feel it’s a waste of time to figure out what the heck it is that they want in their lives. I’ve learned that you can, in fact, get what you want – the question is, ‘is it really what you want?’.
Also, I have a new found respect for anyone that has attained some success and is close to, or has achieved mastery in their respective craft. You realize what they had to go through, and it takes a strong person to persevere. People will often try and bring you back down to their level, so that you can join them in their perspective of the world. You have to be able to have selective ignorance and listen only to those who have achieved the level of success that you want.
Last, you have to want it today as bad as you wanted it the first day. That’s why I like attaching deadlines to goals. It gives you perspective on the beginning, middle and end of the timeline, so it doesn’t feel like it’s forever.
How much do you believe mind-set affects a person’s success?
I’ve suffered from anxiety periodically throughout my late teen years and early 20′s. It was my first experience in learning the power of mindset and inner dialogue. Simply changing my mindset about a situation and changing what I say to myself in my head can be the difference from having a panic attack or avoiding one. Your mind is such a powerful tool.
My mindset is so different from when I started. We all have an inkling to want something for nothing, but the lessons you learn and the growth you attain along the way will make all the difference. There are countless stories of people who hit success too soon and they don’t have the right mindset. It messes with their head and they lose it as quickly as it was gained.
If you had to give your readers one piece of advice as to where to start when it comes to accomplishing goals what advice would you give and why?
Declare your goal publicly. Even if publicly means you tell one person. Tell the right person – someone who will hold you accountable to it, and encourage you. There is data to back-up the increased performance when doing this.
With the documentary you are currently in the process of raising money for, how will it benefit others? In other words, what will someone get out of watching this documentary?
They will learn how to approach any ambitious goal. Whether you are an entrepreneur, student, artist, athlete, etc., it doesn’t matter. It’s a universal approach to attacking the ambitious. Studies show that people learn best through stories, and so you will see through my story and my goal how to accomplish your own. Also, you will learn how to start an eBook business, and app business and grow it to a six-figure valuation. You will learn how to reach hard-to-reach people, and find mentors, as well. My intention is to make you want to get off of your butt and get going on pursuing your own ambitions after watching it.
Corey Wadden is a young entrepreneur, actor and filmmaker. He works to inspire and encourage young people to go after the things that matter most to them. He is the founder and star of Millionaire By 25, a documentary about his two year challenge to earn enough money to retire his mom. He is also the co-founder of several tech start-ups, including Echo Bay Apps, Phoenix Apps and Echo Bay Books.