We have all asked ourselves this question at some point in our lives. Well, if we’re honest, on more than one occasion. Are you really interested in knowing how to become a millionaire? Well, I have good news, I will show you that YES it is possible. Although I am not going to disguise reality, it is essential that you do your part.
Success is never a matter of luck! But this is not a disadvantage but the factor that works the most in your favor because it leaves you with your hands free. You don’t depend on others. You just need to know where to focus your efforts!
My goal is to guide you little by little. You are going to free yourself from those erroneous preconceived ideas that, unconsciously, are limiting you. You are going to dedicate your energies only to actions that bring you closer to your goal. A strategy so simple that it can be summed up in three steps: have income, save and invest.
Discover Your Motivations
Let’s start by giving a slight change to the initial approach. Go on to ask yourself, why do I want to be a millionaire? Your answer depends more on what you think you will achieve your goal.
You need to see the opportunity to become a millionaire as something far removed from amassing money for no reason. Bad start if you think of having a lot of money to waste it on luxuries without measure. In the event that you succeed, you will lose it in no time!
The same goes for personal attitude. Only a positive and proactive mental predisposition will confirm that you are the winner you now sense. I will help you discover those strengths that work in your favor. And, of course, without forgetting the techniques and financial actions. Objective, you no longer need to wonder how to be a millionaire!
Luck is Not The Answer To How To Become a Millionaire
It is essential that this point be clear to you so that you can start working for your future. I am not going to get tired of insisting on the tremendous mistake you would make by leaving your financial destiny in the hands of the lottery, betting, and other similar games. No matter how little mathematical knowledge you have, you know that the accounts do not work out. The law of probabilities always works against you.
The possibility is the same that you have of receiving a millionaire inheritance from a stranger. In my case, of course, none! And while I love rom-coms and enjoyed watching Pretty Woman the most… No, no handsome millionaire is going to propose to me! And better that, just in case, you don’t count on it either.
A Concept of Luck That Does Work
Beware! It is not that I am correcting myself. But it is true that there is another vision of what luck is and that it has a direct relationship with the matter of how to become a millionaire.
I recommend you read Free Capital. In this book, the work of Guy Thomas, the profile of 12 millionaires who achieved it from practically scratch is reviewed. In all cases, his fortune comes from the so-called “Pasteur luck”.
Doesn’t it ring a bell? Surely from now on, you will find this expression very useful. Part of one of the famous phrases of the exceptional French scientist, Louis Pasteur. He applied it to Science. But it is the same for us for the subject we are talking about. His verbatim phrase is “Luck only favors a prepared mind”.
Take note, because it is great for our strategy.
All the millionaires referred to by Free Capital were lucky enough to know how to “play in the world of investments”. His work tools were similar to those used by scientists: observation of reality, highly controlled experiments, and, as positive results are obtained, actions along these lines are increased. And, above all, preparation and knowledge.
But we will have time to delve into this investment formula and its effectiveness if you are thinking about how to be a millionaire. I have told you that we will go hand in hand and step by step so that nothing is left untreated. You are not interested in rushing, you will also have to learn to manage time. And be patient!
What Chance Does Not Give You, You Will Find in Yourself
It is more than likely that, if you have been thinking about how to become a millionaire for some time, you have read articles that assure that it is enough to visualize it to get rich. This mental positivity based only on smiling and being nice to others doesn’t work. I wish everything was so simple!
Of course, I am not telling you that you have to become a predator, selfish, and only think of yourself. On the contrary, among the habits that you must cultivate are education, being aware of congratulating the people you meet, and having an active social life. Everything that contributes to making you feel optimistic and with positive thoughts. And to spread your illusion!
It is true that you need a good dose of self-confidence. But, it should be fact-based self-confidence, not just because. Start by analyzing your strengths, and then enhance them. Specifically, to be a millionaire, skills related to communication skills come in handy. You will be in contact with countless people, of the most varied profiles, and you need the ability to transmit your ideas and your enthusiasm to them.
Qualities That Influence Becoming a Millionaire
- Be spontaneous. I’m not asking you to be thoughtless. But often we are educated not to listen to our intuition. However, I recommend that you pay attention to it. The history of humanity is full of innovative ideas that do not arise from logic.
- Explore less conventional formulas. If we all choose the same areas of interest, we close off opportunities. You just need to do a simple calculation of probabilities to understand it. Investigate where the demands of society are going and you will discover that there are many more unknown economic activities but with a great future.
- “Sign up for failure”. They know this very well in Anglo-Saxon cultures where errors are not penalized. You learn a lot from mistakes. Of course, since your money is at stake, be careful to use only part of your capital. Never all at once.
- Fulfill your commitments. It depends on your reputation that people support you when you need it. If you agreed to call that client or promised help to your colleague, do it! Even if you know that you will not get anything in the short term. They will only take you seriously and trust you if you have built a reputation for keeping your word.
Invest in Your Own Personal Development
Before financial investments, it is essential that you strengthen your self-esteem and invest in your inner balance. They are irreplaceable tools for your goal. Even make them part of your lifestyle when you have achieved it. As we are reminded in this article from the newspaper El Confidencial, rich people spend about 15 minutes a day on their thoughts, concentrating on their ideas.
An excellent approach is that you adopt the habit of getting up early. A couple of active hours before starting your workday can be very productive. It is a time just for you, without interruptions. The perfect occasion to organize your “brainstorming”! Also, a way to feel that you have control of your life.
Educate your mind and also take care of your body. Leading a healthy life, eating well, and doing some exercise are routines that allow you to be more focused.
Step 1: Savings, My Best Ally if I Want To Be a Millionaire
This is the “yes or yes” that none of us can skip. Nothing that we have already seen about your attitude or how to prepare yourself is useful if you do not psych yourself up about this issue of saving. And there are no excuses! The time will come to pamper yourself… Go making a wish list that sooner than you imagine, you will be able to enjoy.
Everyone can save in proportion to their income. The magic figure that all experts recommend, as you can see in this Expansión article, is 20% of your net income. From then on… I don’t put limits on you!
And don’t delay any longer. Have you really spent time thinking about how to be a millionaire and you haven’t been able to save a single euro? You have no room to react because the most interesting thing is that you would have already applied this savings plan from your first salary. So now you have a task to accomplish.
Of course, it is not about having this money accumulated in your home or in your bank account, where with luck you will receive some laughable interest. You save, I take care of explaining how to become a millionaire moving your savings intelligently from the first moment.
Step 2: To Become a Millionaire You Have To Avoid Dependency
I am not referring to a mental issue, although it is very good for you to train your abilities to make decisions autonomously, without needing the approval of third parties. To be a millionaire you have to bet on our initiatives, no matter how incomprehensible they may seem to others.
However, this chapter is no longer about mental skills, but about financial actions. Without a doubt, the best strategy is to diversify your sources of income. I am convinced that you know how to do more than one thing. Women, in particular, have a reputation for “multitasking”! The idea is that you do not settle for your salary, even if you collect a good payroll.
Here it seems that the number “three” is the magic formula. Always try to maintain three simultaneous activities that provide you with money, even if it is not in the same proportion. Telecommuting, the internet second-hand market, or advertising on social networks are alternative sources of income available to everyone.
I practice a rule that has given me very good results. I try not to reject any job offer, as long as I can combine it with other activities to which I have previously committed myself. This attitude has allowed me to have an extensive network of professional contacts. My sources of information and opportunities have multiplied!
Step 3: Invest Small and Concentrated
Those who start in this world of financial investments usually think of buying shares of multinationals and large firms listed on the stock market. However, it is the small local companies that can make you money faster and safer. Among other reasons because they are not monitored by professional advisors. In addition, they have more capacity to transform, and, when they grow up, they are the object of everyone’s desire. You can triple or quintuple what you invest!
It is also not recommended that you disperse your money too much. It is true that if you spread it out, the risk of going bankrupt is lower. But, also, you minimize the benefits. Be smart with your investments. And, for that, nothing to put yourself in the hands of financial advisors. The study, find out, analyze and decide.
Turn the search for financial information into one of your daily activities. Do you remember when I suggested that you get up early? Well, some of that extra time is great for you to spend on these tasks. I recommend that you visit specialized forums such as Rankin or Inverforo, in Spanish. Or, if you’re fluent in English, ADVFN or Green Energy Investors.
How To Become a Millionaire is Also a Thing For Good Companies
Finally, a piece of advice that you can apply to this topic and to your life in general. It is clear that we are social animals. Therefore, surround yourself with the right people! eye! I’m not just talking about nurturing friendships that you can learn from. It is just as important that you have people with a positive spirit around you. Optimism is contagious!
You never know where that unique opportunity that begins to change your life can come from. Do not close doors.
So, I keep cheering you on, because the goal is worth it. But, under an incontestable premise, if you are serious about how to become a millionaire, it is time to dream less and put your feet on the ground more. Don’t spend like crazy, invest in your own time, diversify your interests, prepare yourself and keep positive thinking. Do not let yourself be dominated by impatience and I am sure that you will achieve it!