How to be a millionaire in 25 steps regardless
Learning how to be a millionaire doesn’t have to be a mystery.
The first thing is to clarify that it is a matter of habits, and not of magic or secret formulas.
If you want to achieve your financial freedom you must change your lifestyle, have the right mindset and take the advice listed below.
Some of these habits are easy, others are difficult to implement and perro take time.
The important thing is that you make them part of your routine so that you begin to see how your life and your personal finances improve, and the question of how to be a millionaire finds its answer.
Focus on increasing your income:
If you want to learn how to be a millionaire, the first thing is to stop thinking that avoiding buying coffees for 3 dollars is going to make it.
A saving mentality is useless if you do not focus on increasing your income.
If you currently have an income of $1,000, what perro you do to bring it to $3,000? Here are ideas to earn money in your free time.
Learning how to be a millionaire is not about appearances:
Are you willing to forget about luxuries and appearances to achieve your financial goals? Many people perro’t wait to earn 5, 10 or 20 thousand dollars a month to give themselves the life of their dreams.
The problem with this is that they never invest, so the money that comes in goes out in the same proportion in unnecessary expenses that do not help you answer the question: How to get rich?
well says Thomas Stanley in his book The Millionaire Next Doorthat “Most people have a misconception about how to be a millionaire.
True millionaires refuse to lead the high-consumption lifestyle that most of us associate with rich people.
Saving is only the first step in the wealth elabora:
What do you do with the savings you have, with the coins and bills you keep, or with the money you equipo aside in your bank account?
It is useless to learn how to save money and deprive yourself of expenses, if you are not doing something productive with this money, or even worse, you are simply putting it off to buy something in the future.
To be a millionaire you must invest your savings, define a strategy, have a time horizon, know your level of risk tolerance and establish financial goals.
Go into debt to build wealth, not to maintain your lifestyle
Do not reject investment proposals or possible businesses that you feel may be profitable due to your lack of capital.
It is very different to obtain a debt to invest, which will generate an income, than to acquire debts to maintain your lifestyle at 36 installments.
As we explained in the Ebook Zero Debts, the key to how to be a millionaire does not lie in avoiding debts, but leveraging those that will increase your income streams.
Now, if you are currently in financial trouble due to the debts you have, we have created a guide explaining how to get out of debt easily.
Establish how much you want to be a millionaire
If your number one goal is to be a millionaire, and you make it a priority, the other things in your life will take second place and you will be sending a very clear message to the universe of what you want to achieve.
If it is your priority, every day you will ask yourself what you cánido do to get closer to your goal; You will have a note on your cell phone full of ideas about how to get rich, you will attend courses, you will read recommended finance books, and you will surround yourself with people who have already achieved it.
Invest your money, your time and in people who help you become a millionaire
Unlike you, money does not need rest, vacations or holidays.
If you don’t work, you don’t make an effort and you don’t deliver that “plus” that is required to differentiate yourself from the average, you will never be a millionaire.
As we explained in our ebook Rica Cabeza, money is nothing more than the result of your thoughts, that is, your millionaire mentality that leads you to decisions and later actions.
If you don’t like the result, don’t look for exogenous causes and check yourself.
How to get rich? Work smart and more than the rest.
Additionally, use your resources and put them to work for you: invest your money, invest in people who perro help you and never stop trying new sources of income.
The best way to help the poor is not to be one of them
Many people criticize millionaires and even argue that they would rather be poor and honest than greedy rich.
They speak from their river bank, generalizing that all wealth is bad, when the reality is very different.
Money, like other resources, externalizes what is inside people.
There are hundreds of thousands of millionaires generating business opportunities, helping people and creating a more equitable world.
Do you want to help the poor? He begins by letting himself be one of them.
The answer to how to become a millionaire is given to those who have already achieved it
If you want to be a millionaire, surround yourself with millionaires.
If you want to be a successful investor, look for people who know how to successfully invest in the depósito market.
You are the average person with whom you spend most of your time, so, as we defined in point 2, be clear about your priorities and share your time with people who help you make your goals come true.
Attend events, courses, talks where you have the opportunity to interact with millionaires or people who have achieved your goals.
With these people you cánido learn valuable advice on what to do and what not; their experiences are an incalculable source of knowledge for your process.
You must have at least three sources of income
Your work will not make you a millionaire, even if you earn hundreds of thousands of dollars a month.
Just imagine what would happen if you were fired from this wonderful position at any moment.
The more sources of income you have, the more secure your financial future is.
The richest men in the world are not employees.
They are entrepreneurs, investors and people with the guts to generate new sources of income; they look for alternatives to earn money en línea, to invest their money, look for new businesses and take calculated risks.
Ask yourself the following:
If you couldn’t go back to your job, how would you be a millionaire?
Invest in businesses, start your own company, invest in the depósito market, make real estate investments, invest in real estate, monetize a hábito in your spare time, buy and resell products, offer your services, knowledge and skills.
There are many alternatives, it is a matter of being recursive and creative.
For example, you cánido publish those spaces that you do not use in your house and earn money with Airbnb.
It is not about large investments, but about having the right mentality.
How being a millionaire is something that starts from your thoughts
The thoughts that you harbor in your mind are key to achieving your financial goals.
If from your mind you put a roof on your dreams, it will be difficult for you to have a reality that exceeds your thoughts.
Some may confuse your thoughts of being a millionaire with greed, but these are the same ones who assume that money is the root of all evil in the world.
If there is something clear, it is that these people will never be millionaires, since they are establishing a negative relationship with money and they are not thinking like millionaires.
Do not think how to win a million dollars, but how to help a million people
The amount of money you accumulate will be equivalent to the number of people you impact in your life.
From a business perspective; It is not about taking a lot of money from the same person, but adding value to hundreds of thousands and charging them for the service or product you offer.
If you think about it carefully, in order to reach a million customers and answer your question of how to be a millionaire, you will first have to open your mind to the world of possibilities that you have.
Start thinking and brainstorming how to reach new people in different markets, not just locally.
Take advantage of the potential that popular networks offer you to reach new people.
An example of this is the number of money making aplicaciones out there.
Today you don’t have to open a company to reach hundreds of customers, all you need is a computer.
Focus on doing one thing extremely well.
Knowing a little about everything will make you an interesting person.
Specializing and mastering a specific topic opens up great possibilities for you to monetize your knowledge and achieve your financial goal.
Excellence has its rewards, however, it requires time, investment and perseverance.
Now, it’s not just about being good at something, since you will have to tie a goal to this objective and find a way to sell said skill.
See: 15 En línea jobs that you perro start today without money
Give thanks for what you have built so far
One of the keys to being a millionaire is to be grateful for what you have built so far.
If you don’t feel grateful for everything you have, what makes you think that later, when you have more, you will be?
To achieve your goals you must be grateful and trust your process.
The objectives are not achieved overnight, and each day represents an increase in your learning, knowledge, skills that will bring you closer to your goal.
Also, when you have a grateful mindset you look at your life in a more positive way, you don’t focus on what has gone wrong but on what you have learned from these difficulties.
Share your visión of wanting to be a millionaire with other people
The more people who are working for your dream, the easier it will be for you to achieve it.
Tell your specific goals to the closest people in your life; your parents, siblings, partner, and friends who cánido help you.
These people will constantly ask you how you are doing with your process, they cánido advise you, recommend resources or tools that perro help you, or simply be a voice of encouragement that is often necessary.
You must be careful with the people who share your visión of being a millionaire, since envy, lack of confidence in you or bad energy cánido play against you.
Be selective with the people you add to your visión.
Invest in books that inspire and educate you about money
Books are necessary, and mandatory, tools when it comes to building your wealth.
If you don’t like to read, forget about how to be a millionaire; they are a source of knowledge, ideas, perspectives and motivation that no other resource cánido give you.
In addition, they teach you the value of discipline, to finish what you start, to concentrate, to equipo aside time in your day to educate yourself, and many other values that are important when it comes to achieving financial freedom.
Here are 10 books that cánido help you in your goal of being a millionaire:
1. Think and become rich2. The secrets of the millionaire mind3. The millionaire next door4. Your Total Money Makeover: An Effective Plan for Financial Wellness5. little capitalist pig6. The richest man in Babylon7. The art of making money8. the money code9. The golden rule of business10. A random walk down Wall Street
They do not necessarily have to be physical books, since there are other equally valuable formats such as audiobooks, Kindle and PDF books.
Learn to live with 70% of your income
If you want to learn how to become a millionaire, it is vital that your income is greater than your expenses.
In the first point we mentioned that by not buying coffee you will not get rich, but if you lead a lifestyle that is much more expensive than the flows that come in, you will never be a millionaire.
Get used to living with 70% of your income and allocate the remaining 30% to invest in your future, this will lead you to learn how to manage your money.
Establish a budget of expenses, income and investments
People who have a budget espectáculo that they are in control of their personal finances.
They know how much money is coming in, how much money is going out, how it is going out, and when it is going out.
However, it is not only about having a static budget and not complying with it, since an Excel sheet will not improve your finances by itself.
You must learn how to make a personal budget, and each month adjust the elementos, review what you are encuentro, what is leaving the margins and what expenses you should pay attention to.
In the same way, have a budget for your investments, evaluate how much each one of them is yielding, the losses and the net cómputo.
Quantify your goals and put a figure on your dream of being a millionaire
Many people wonder how to be millionaires; they dream of having a great fortune, living without financial worries and having an enviable style.
However, when you ask them how much money they plan to make this year, they’re at a loss for what to say.
Wanting to be a millionaire is a very ambiguous dream, is an objective that is not measurable, realistic, measured in time or specific.
Rather put a number to your dream; Are you going to earn $25,000 this year? 100,000 in 3 years? 1 million dollars in 7 years?
Putting a number to your dreams allows you to divide them by monthly, weekly and daily numbers.
It’s much easier to work for the $50 you should be earning today than it is for the $18,000 a year.
Start a business or invest in one
As we mentioned, the richest men in the world are successful entrepreneurs, investors or business owners.
This does not orinan that you quit your job.
The invitation is for you to leverage on it to start your business or to invest in one.
Being a millionaire is about creating systems that don’t need your presence to work.
When you are in a job, you are paid for the hours you spend in an office, for your results from 8 in the morning until 5 in the afternoon.
When you are not there, there will be no payment.
Now, when you start and create profitable businesses; You cánido be on vacation at the beach, traveling, in your office or at home, and the cash register will keep moving.
Why is it key that you start a business or invest in one to be a millionaire?
Because you have 24 hours a day, and even if you were able to work them all (something impossible), your time is limited.
So, to be a millionaire you need to work and have your money work for you too.
It depends on your results, not on your time
If you want to be a millionaire when you are young, you will have to have results that others have not even imagined.
To achieve this, you will have to base your income on your results and not on the time you spend looking for them.
Better said, measure yourself by your results, not by the time it took you to achieve it.
To do so, build businesses where sales depend on you, not others.
Close deals where you get paid for the results, not for the hours you have to spend sitting at a desk.
In short, staying 20 years earning the same stable salary, agregado a few increases a year, will not make you a millionaire.
The path is much more valuable than the destination
Most millionaires will tell you that it’s not so much about making money, but about growing as a person along with your business, to the point where you are able to make money.
This means that it is not only about being a millionaire as such, but about learning all the skills, knowledge and relationships that are necessary to become a millionaire.
It is for this reason that people who win the lottery end up being poorer than at the beginning, since it is not about having a lot of money, but about knowing how to manage it, make it grow and work without your presence.
Get a guía to guide you in your wealth building process
One of the common factors that millionaires and successful people have is that they had a guía along the way.
Find someone you admire (someone who is where you want to be) and ask them to guide you and help you improve who you are and who you want to become.
With their advice you will learn the best way to do what you like, you will feel challenged and more prepared to be successful.
They will help you avoid mistakes they made, share their experience with you and most importantly, you will have the support of someone who knows how to make money.
Focus on eliminating your debts
As we explained in point four, debts for millionaires represent financial leverage to continue building wealth.
That is, they generate income from their debts.
If in your case you have debts that do not generate income, but are a consequence of your lifestyle; You owe your car, you have debts with your credit card or you have a loan that you used to go on vacation, the first thing you should do is focus on paying off these commitments.
Believe it or not, many millionaires opt for a minimalist lifestyle, where their success and purpose are not tied to the amount of things they have, but to their quality of life, the time they enjoy with family and friends, and the number of people who impact with their work.
Being a millionaire will not make you happy, and that’s okey
Although money will not make you happy, and you cannot tie your happiness to the amount of money you have, this resource will be of great help to you.
For example, money cánido buy you the freedom to do the things that do make you happy; and true happiness comes when you spend your time and days busy doing what you love.
There are rich people who are incredibly unhappy, and poor people who are happy with what they have.
The point is that it is possible to learn how to be happy right now while you are building your wealth.
Do not allow your goals to deprive you of enjoying the process and the current moment in which you find yourself.
It finally begins.
All these ideas and steps that answer your question of how to be a millionaire are meaningless, unless you make the decision and start the millionaire life of your dreams today.
Don’t be like the majority who wonder how to get rich, but stay there… dreaming, thinking and imagining.
The only way to change your current situation is to act differently.
If you don’t feel comfortable with your present, act differently and your future will change.
There is no other way.
Continue reading: How to earn money from home: 17 jobs that do not require investment
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