How Do I Become a Millionaire
Here on The Millionaires Giving Money Blog we like sharing information on philanthropists and billionaires who give money to people in need. In this post we look at the several dimensions you need to become a self made millionaire and then who knows go on to become an individual of billionaire status. Nothing is impossible.
How to Become Successful and Wealthy
If you’re a determined individual, not scared to fail and are motivated to achieve no matter what then you can become rich and wealthy. From time to time I hear people making comments such as “I want to be a millionaire so bad it hurts”; it might be because of debt, it might be not being able to live the way you want or you may want to give your family a better standard of living - there comes a time when you reflect and affirm that enough is enough, I need to get rich.
Fortunately the world is not short of pundits offering personal financial advice; I’ve been fortunate enough to read books such as Rich Dad Poor Dad, The Millionaire Next Door and the Richest Man in Babylon and have come to realize some universal truths. There are three dimensions that you need to work on to guarantee success, how effective you are in these three dimensions will determine how long it takes you to become a millionaire. Anyone can become a millionaire if you really put your mind to it, there are Christian Millionaires, Forex Millionaires and Teenage Millionaires, the list is endless along with the opportunities to succeed.
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How to Become a Millionaire
Learning the mechanics of how to become a millionaire can help you rise out of poverty. Most personal finance books convey a way of thinking, some advocate financial stability, some preach financial freedom while some promote unimaginable financial success, the main problems with all these ways of thinking is that you could play too defensively and achieve little or play attack all the time knowing that success is not guaranteed.
By following the three dimensions you can guarantee yourself financial fiscal stability and aim for financial freedom and ultimate millionaire status. The reason for writing this article other than to make money was to make people aware that there is no rigid formula to becoming a millionaire however there is a road map you can follow and these road maps have proven success for other people.
The First Dimension: Financial Stability
You need to lay the foundation of financial stability if you want to become a rich wealthy millionaire, when you first start your journey you need to have a underlying desire to learn about money and how to acquire it. You need to become financially literate and understand all the important concepts and ideas to become a millionaire.
Reading books will help, listening to audio books of the top 10 personal finance books will definitely turn your life around. For the first dimension there are some universal truths that you need to embrace, by continually striving to live by this code you’ll see that your financial position slowly improves and you take small steps in the right direction.
Universal Truths if You Want to Become a Millionaire
#1: Pay Yourself First
#2: Spend Less Than You Earn
#3: Pay Off Debt
#4: Start An Emergency Fund
#5: Live Frugally
#6: Save Money for Retirement
#7: Save Money for Investing
The Second Dimension: Financial Success
You don’t have to master the first dimension to get to the second dimension when you want to become a millionaire. You could practice all the universal truths listed in the first dimension yet think about what you have to do to achieve success in the second dimension.
The second dimension is about financial success, this is where you want to achieve financial freedom and early retirement; this is where you can choose to work as opposed to having to work. Financial success really depends on your ability to grasp financial independence and embrace it as a wonderful financial concept.
Financially free people are able to derive a source of income regardless of whether they work or not, they have a money system and it continually grows. Becoming financially independent takes time and effort and following the universal truths about becoming financially independent will help you achieve success in the second dimensions.
#1: Save Money Religiously
#2: Understand that time is worth more than money
#3: Know the Difference Between an Asset and a Liability
#4: Invest in Assets that Require Little Time
#5: Remove Liabilities from Your Life
#6: Fund Liabilities Using Your Income from Your Assets
#7: Continually Grow Your Net Worth
The Third Dimension: Financial Superhighway
In the final dimension you’re looking for that home run, you should focus as much creative energy as you can to develop something that adds value to other people’s lives. You are looking to make a contribution to millions of people and you’re looking to be compensated by your work.
Your aim is to reach at least a million people and offer them something; if you can offer people something valuable then you’ll become very wealthy. There are many ways to hit that home run, you can use the internet to reach billions of people, you can invest a product to make the lives of millions of people better, you can add value every time you do something and become filthy rich.
The universal truths about reaching the financial superhighway will take the longest to develop however once you’ve hones your brain to think like millionaires and billionaires you’ll eventually become a millionaire or a billionaire.
#1: Always Look for Opportunities
#2: Learn How to Reach People
#3: Learn How to Effect People
#4: Learn to Learn from Failures
#5: Learn to Learn from Success
#6: Execute Your Ideas
#7: Think Big
How to Become a Millionaire Conclusion
If you can wholeheartedly embrace all the dimensions needed to guarantee financial success then it’s only a matter of time before you become a millionaire.
Only embracing a certain dimension is risky, if you just embrace the first dimension then you might become financially secure but will you reach millionaire status saving small amounts of money? Embracing just the second dimension is risky as financial freedom takes time and passive income does not come with an iron clad guarantee, if you fail to become financially free then at least you’ll be stable.
Finally just embracing the financial superhighway to become a millionaire or billionaire is again risky, hitting that home run could take time and you want to create an environment of manageable pressure so you can make successful decisions, living in a garage looking for that home run is counterproductive as you start to chase money as opposed to chasing the needs of millions and offering them a solution.
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