Is It Becoming A Millionaire You Want Or The Lifestyle Of One?
Updated: Oct 13, 2021
It can be very confusing when we find our selves not being able to reach a specific level in economics success. Which is why these two questions are important the the pursuer of such accomplishments. I mean both choices are not wrong... its just that many people can already be in the position they aim for if they view the picture from a different angel.
The Millionaires Mindset
1. Set yourself concrete goals. Good preparation is an absolute necessity when it comes to endeavors as big as becoming a millionaire. And it all starts with giving yourself concrete, measurable goals that you can keep your eyes on.
Perhaps you want to reach millionaire status by a certain age, like 30.
Or perhaps your first goal is just to be out of debt within two years.
Break bigger goals into more actionable smaller goals. For example, if one of your goals is to have a growing business in a year, start with the goal of fleshing out a business model within the first month.
2. Get a good education. Although there are a number of examples of millionaires and billionaires who never completed college, statistics show a link between education and wealth. The higher your level of education, the more opportunities are unlocked for you, and the higher the chance that you will become a millionaire.
3. Take care of your health. Making money and making good decisions that create more money in your life require that you are in good shape. Keep fit, eat well, and take good care of your body. It is your health that will provide you with the energy and resources needed to keep going on the commitment to becoming a millionaire.
4. Be tenacious. Success requires the ability to keep getting up after failures. There will be plenty of failures as you try to find the best ways to make a million or more. This isn't about the safety net of an average salary and the boss's orders being met each day. To become a millionaire, you have to be prepared to make decisions that won't always succeed but if the risks aren't taken, then the potential for success won't be realized either.
5. Check your self-confidence. If it's low, now is the time to build it up. High self-esteem and good self-confidence are essential traits to help you on your way. However, don't let this delay you. You can fake it until you make it and the more you practice being confident, the sooner it becomes a part of who you are
6. Read the advice of those who've made it. Benefitting from the wisdom of the successful can never hurt, but be careful not to get caught up in the planning and preparing stage. The most important step is taking action. However, do spend some time reading other millionaires' advice. Some suitable books to read include:
Thomas J Stanley, The Millionaire Next Door (2004) and Stop Acting Rich... and Start Living Like a Real Millionaire (2009)
Alexander Green, The Gone Fishin' Portfolio
7. Find a mentor who has walked the walk and seek advice. Surround yourself with already-made millionaires. They can be found in several places, there's even a private online club where you can have a millionaire mentor personally show you how to make money in many areas online.
How Do I Live Like Millionaire?
| | ANNUAL SALARY | MONTHLY SALARY | WEEKLY |
Hourly Wage | Top Earners | $75,000 | $6,250 | $1,442 |
$36 | 75th Percentile | $61,500 | $5,125 | $1,182 |
$30 | Average | $52,436 | $4,369 | $1,008 |
$25 | 25th Percentile | $31,000 | $2,583 | $596 |
What Will It Take To Be A Top Earner?
Well that all depends on what are you great at, and how much of that can you do in a day to generate this portion of the Top Earners Spot (TES).? If we take the TES, makes 75k a year which breaks down to $6.5k a month broke down to $1.4k a week. Now I want to take this a step further that way a person can get a more in-depth understanding of what this truly means. That if you break your week down into days this is what that would look like.
You would bring $206 a day for 7 days = $1,442 | |
You would bring $240 a day for 6 days = $1,442 | |
You would bring $288 a day for 5 days = $1,442 | |
You would bring $360 a day for 4 days = $1,442 | |
You would bring $480 a day for 3 days = $1,442 | |
You would bring $721 a day for 2 days = $1,442 | |
So what this basically means is. If you don't want to work a 9/5 job, then what are you able to do with your own personal abilities and talents/skills to bring anyone of the figures in a daily throughout that weeks time?