Follow us on
Share this page

Do you seriously want to be a millionaire?

May 15, 2017 in Careers

How to be a millionaire

Millionaire. It’s a title that most of us covet. But is that actually feasible?

I’ll be honest. Given the current job scenario, the future may look bleak if you’re a millennial. That’s why you may think that it’s impossible for you to become a millionaire. However, don’t get bogged down by the negative news. The basic economic environment is quite stable. You can achieve any economic goal if you make sincere efforts towards it.

The fact is, the goal is achievable if you are serious about becoming one – that is. Many average people have a millionaire before they turned 30. If they can do it, you can too.

Before I walk you through some simple ways to become a millionaire, reflect on how wealthy you are already. The chances are that you would land on the top 3.65 percent richest people in the world by income. Now imagine yourself making more.

Develop a Mindset – Making Money is not Evil

The first step to becoming a millionaire is to envision yourself as one. Be clear about how you want your life to look in the future. Self-made millionaires tend to have a clear sense of amassing money as an important objective in life. They consciously prioritize activities with highest paybacks.

Perseverance is an essential trait of a millionaire. Work smarter to make your money work for you. Millionaires many a time become millionaires and stay that way because they are never afraid to take a risk and invest.

Start Early

You can’t wake up one fine day and proclaim that you wish to be a millionaire by the end of the year. Amassing wealth is a time-consuming process. You need to discipline yourself and prepare yourself to make umpteen sacrifices while you are young.

You can’t leave everything to chance. The earlier you start following the money, the better is your chance of making a breakthrough as a millionaire early in your life.

Embrace Frugality

It’s a widely accepted fact that the wealthiest people are frugal. They spend wisely and use coupons whenever possible. They often live below their means and limit their entertainment.

Spending prudently doesn’t mean you can’t enjoy yourself. It just means you have to limit yourself from an extravagant lifestyle.

Ready to face boredom and monotonous life

Be prepared to go solo. Cut down on your outings and social gatherings if needed. Use these opportunities to read, exercise, update your skills, and focus on making a few extra bucks. The key is to be consistent in your efforts to being a millionaire.

Diversify Income and manage your Debt

Invest in your career and take it to the next level. Often making your passion work for you is the key to amassing wealth. It could be freelancing, volunteering as a guest lecturer, or even selling craft items. Ensure you have got rid of any debt before your stash away your money.

Dream of the possibility and believe in your ability. It could be simpler than you think. Remember, it’s OK to pursue millionaire status. But don’t do it for the fame. Pursue it for your family. Pursue it for your community. Pursue it for a purpose greater than yourself.

Leave a reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Click here to subscribe our quarterly publication icube.