How to become a millionaire How to become a millionaire

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Tuesday, June 30, 2009

How to become a millionaire

Ever dream of becoming a millionaire? Well, if that is your dream, I want to assure you that if you are willing to go the extra mile, that amount of money will come eventually.

Of course, the simplest way is to convert your money to yen....although you might find that the million yen value might not be the same as the million dollar we talking about here. :-)
Alright, jokes aside.

Some people no doubt has fantasies that are only achievable by few genius....becoming a millionaire in a few years time....some even go to the point of saying that becoming one in 5 years. Such time limit is unnecessary because firstly, it serves to hinder the concentration and most of the time, people fall and make stupid mistakes because of their impatience.

Becoming a millionaire isn’t all that difficult and there are countless ways to achieve that milestone. Some people do it through real estate, others start their own business, while some simply get lucky by winning the lottery or winning big on a game show. What is even more interesting is that you don’t have to be wealthy to begin with nor do you have to earn six figures to reach this goal.

Well, no doubt about it...
the first step: EARN INCOME!!

Logically, the more you earn, the faster it will be for you to earn your first million. Well, better still...get married and have someone work together with you. Two people working together will most often gain more income and the expenses usually does not increase that much.
Well, if you are an average income earner, you might need a longer time.
But even if you are not part of this group, all is not lost and hopeless for you. Remember that everything is determined by choice. The moment you make the choice to be a millionaire, there is a GREAT POWER within it. It might take a few years of slow growth but your consistency and insistent on becoming a millionaire will lead you there.


Well, you have your income, what's next then? If you spend more than you can even afford, then you might as well just sit down in your home and don't work. Remember that your expenses cannot exceed your income. Well, saying this doesn't mean you must suffer through the years. What you are doing is to become an average user and not some "arrogant dude" trying to PRETEND TO BE RICH. Remember, someone who is rich does not necessarily spend unnecessary.


Now of course, even a 10 years old will know that you need to save money to have more money. It doesn't mean that only the rich can afford to save. I have known so many young adults with an income of not more 1000 bucks manage to save at least 100 per month. And that should be our starting point. 10% as savings as a start and we will see how we progress from there depending on your income.

4: INVEST!!!

If you think that savings alone will help you reach the millionaire status, think again. No doubt it is possible for the high income group but it is almost impossible for the average income earners and low income group. You want to be richer then invest!!
Why invest? First of all, everyone is doing business and therefore the best thing one can do is buy business in terms of shares and stock marker. You will get some dividend and as you continue to invest, you will see your share of profit increases!!

5: A famous sayings: Stick to the status quo!!

Stick to the status quo. Stick to the plan. Don't be so double minded that when you see a friend of yours driving a Ferrari and you intend to get one yourself before you are capable of that.
As far as income is concerned, always be on the lookout for ways to increase your income, whether it is through climbing the ladder at your current job, finding work elsewhere, or maybe even starting a business on the side. Increased income will mean you can save even more, provided you aren’t foolishly spending the additional money. As that additional money gets tucked away into savings or investments it will continue to grow even more quickly.

To be honest, it is almost as easy as a piece of cake if you are are willing to put your heart into it.
Work on your plans, stick to it, repeat it and you will slowly see more results!!

1 comment:

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