Becoming a millionaire has a pattern to it; in fact there are seven basic steps that all millionaires take in order to become part of the elite and wealthy. As well as true grit and determination, hard work and a huge amount of self-discipline; there are also a few other characteristics that separate the wealthy from the wannabes.
Check out the following tips on how millionaires become so incredibly wealthy:
1. Don’t Live Like a Millionaire!
Most millionaires don’t prance around in Gucci – they simply work hard and blend into the crowd. Look at Facebook founder Mark Zuckerberg and tell me, does he really look like a typical millionaire? Well, actually yes he does to a trained eye! He worked hard to create his wealth showing a distinct difference between a self-made moneybag and someone like Paris Hilton who inherited her wealth yet struts around with the more stereotypical image of a millionaire…
2. Learn about Money!
Spend every minute focusing on money – attend seminars, plan investments and use only the very best tax accountants and attorneys. Protect the money that you earn and continue to grow your assets through clever investing and pay attention to every little monetary detail.
3. Stand on your Own Feet!
Stop relying on family to support you or you will never be able to make your own wealth. Research actually proves that the more money you are given – the less motivation you will have to make your own.
4. Be Financially Independent!
Millionaires often don’t think about the cars that they drive or the plush homes that they live in as they are working too hard to think about it. Forget about attending fancy functions and keeping up with the Jones’ as the Jones’ are called the Jones’ for a good reason – they are only average earners!
5. Motivate your Kids!
Millionaires only create future millionaire-offspring by teaching their kids to be self sufficient. Giving your children wealth is not the answer but educating them on how to make their own wealth is!
6. Do your Research!
Understanding what makes a good investment is the key to being successful and millionaires know exactly where to find money, how to earn it and how to keep it. Self-made millionaires are ultra-careful with their spending habits but when it comes to investing and reinvesting – they are happy to pay out as they know what will make a good return.
7. Choose the Right Business!
To give you a rough idea on what millionaires actually do for a living check out these statistics:
- 20% are retired
- 80% of these retirees are self-made business people
- Successful entrepreneurs are four times as likely to be millionaires than those who work for companies and other people
Every sector offers a millionaire-making opportunity and the wealthy range from people in the farming industry through to medical professionals and there is an opening to make millions in every profession, hell, you can even make millions through making Youtube videos – you just have to know how, and then work your ass off.
A high level of discipline, honesty and hard work will help you to millionaire-status and remember that many millionaires are self-made average Joe’s who all seem to share the same seven attributes.
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Great post Will, this one makes alot of sense, some of the richest people I know, act like they are the poorest:
“Most millionaires don’t prance around in Gucci – they simply work hard and blend into the crowd. Look at Facebook founder Mark Zuckerberg and tell me, does he really look like a typical millionaire? Well, actually yes he does to a trained eye! He worked hard to create his wealth showing a distinct difference between a self-made moneybag and someone like Paris Hilton who inherited her wealth yet struts around with the more stereotypical image of a millionaire…”
Thanks, I have noticed that too, although at some stage, you will hopefully be able to enjoy your wealth!
I’m starting to learn more about managing my finances! This is a great post!
I wished I knew this financial advice when I was a teen especially when I held my first paying job. I totally lived like I was a millionaire.
this is great advice!
This is a great article! I am going to share and discuss it with all 6 of my children, to get them movtivated to think intelligently about money.
The first tip really nails it down: Don’t Live Like a Millionaire! and may I add, THINK LIKE A MILLIONAIRE. Strategizing and having a mindset like millionaires will definitely help each one of us to get to our goal faster. The best way to become like millionaires is to learn the habits that made them to get where they are and try to live the same principles in your life. I’m talking about the wise millionaires
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Interesting article. I completely agree with the keeping up with the Jones’ comment. Now if only I could follow these steps myself.
How interesting! Great tips too! I am soooo going to make my teenaged son read this! I wished I knew this instead of squandering my teenage years!!
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This article really relates to me because I have an uncle that always talks to me about being a good investor and being educated enough to take on my investments and money.
What a great advice! thanks!
I would want to be a millionaire too! Gosh!
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