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2/25/2012

Here’s How You Become a Millionaire

There are countless, not so difficult ways to become a millionaire. If you’re lucky, you might end up winning a million dollar lottery or a game show. Otherwise you can fall back on real estate and use it as the medium of making some good money. Lastly, if you think you’ve got the entrepreneurial luck, then you should totally start your own business and invest all your time and energy on it. What’s really interesting is that you don’t have to earn six figures or be wealthy to begin with in order to reach this goal.



 Here’s a list of people who made it big before the age of 25: http://money.msn.com/investing/how-to-be-a-millionaire-by-age-25-kiplinger.aspx










When on the road to becoming a millionaire, for starters you must understand the significance and the true value of money by unfolding queries like: Why do we need money? How did the use of money come about? How does one accumulate money in the first place?


Before the invention of money, we humans indulged in what was known as the barter system, in which we traded things with each other for clothes, foods, and even other items as per the agreed exchange-rate. For example if you wanted apples and you only had oranges, you could trade your oranges with someone who had apples. Now the problem arose when the person who had oranges didn’t want any apples, therefore the exchange came at a halt and could not be carried out.

Seeing this problem and being affected by it, money was created so that we could use it to buy things. And since money is a standardized form, it can very conveniently be used to buy other items, making trade very easy.  Here’s another question, is it possible to buy a house in exchange of one or more oranges? This question’s fairly obvious and I’m sure you know the answer to it. That’s because the value of one or more oranges does not equal to the value which is worth buying a house.
Now in order to become a millionaire, you on your own need to be able to produce the value of money which worth a million! Which is why it takes a person hard work of minimum 10-20 years to be able to produce the value worth of a million dollars
Now if you’re thinking this is an article about how-to accumulate wealth from saving all life, it isn’t. This is about how to generate wealth worth a value of multi-million dollars, and not just wasting your life in the process but actually enjoying the creation process. Here are a few steps to help you get started.

Make a Decision and Stick With It

It all starts from head. You first have to decide if you want or don’t want to be one. Then you tell head that since you’re not one as yet it means you’re not wealthy enough. So then you decide that you have to work hard in order to be a self-made millionaire. What you need are basically ideas and a lot of dedication which comes through the hard work you put in – to create a web worthy enough to not get destroyed in a lifetime. So what does the first step teach you? It teaches you to make a decision by setting a target, that of a million dollars.

Change The Way You Think, Think Big

There’s plenty of money on the planet, what we lack are opportunists, number of people wanting to avail it. In order to become a millionaire from level zero, you have to end the way you think, by this I mean the typical poverty-thinking all us middle class people are used to. What’s grilled into our heads are typical lessons taught to us since when we were kids, “Don’t waste anything,” “Eat all your food; there are people starving,” “Money doesn’t grow on trees.” Etc. All these lessons have made us fear the sense of scarcity.
According to Mr. Jason Flurry, a certified financial planner and president of Legacy Partners Financial Group, Woodstock, Ga., “You can have money or you can have stuff, but seldom do you have both early in life,” What we need to understand fro this step is that money is in abundance on this planet, and if we continue are poverty struck thinking we won’t be able to avail it.

Take It Like It’s Your Responsibility

Self-made multimillionaires are not just motivated by money, but motivated by opportunities that can best facilitate their contributions. This doesn’t mean wealth isn’t important, because of course it is. But as important is the eye to be able to spot an opportunity, which would further increase your potential wealth accumulation. A multimillionaire never lowers his/her targets when conditions are/get tough. But take them as a challenge considering they know what a difference they can make at home, for their families, communities and even their country.

Learn From The Multimillionaires

Get into the habit of studying wealthy people and their stories just to see all what they went through to get to where they’re at right now. Get inspired by their lives and achievements and use that inspiration as a tool for success. Don’t listen to the people without money, who tell you, “All rich people are greedy!” and “Money has nothing to do with happiness.” Of course money has a direct link to happiness. You need to make sure you’re fully aware know what other millionaires around you doing to earn that million. So like I said, get inspired and follow their example: How did they stay motivated?  What did/does happiness mean for them? How and where do/did they invest? What do they read?

Work, Work and Work

Learn to value time and understand the fact that rich people buy time, whereas poor people are the ones selling it. The wealthy understand the value of time and how its way more valuable than money it self, so delegate and recruit people to do the things they themselves aren’t good at. This however does not at all mean that the rich and wealthy don’t work hard. Wealthy people have a name to success and as per Maslow’s hierarchy of needs; they’re on the last point of the pyramid where they work till the point they don’t feel like they’re winning.

Invest More Than Spending

Spend very wisely and get into the habit of investing money so that you have a secure potential. The wealthy know the U.S. tax laws are such that they favour investments over spending. You buy a house to live in, always trying to make the ends meet. Whereas a rich investor buys a house with the intention of investing into it, the moment the prices go up he sells it on profit and adds that to his wealth. So plan and get into the habit of looking ahead.
Get rich and live the Malaysia Dream!

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