If You Want to Be a Millionaire You Have to Think Like One
How many how to e-book have you read on getting rich? Would an aspiring millionaire actually spend their money to buy these book or would they hang on to their seed money worried that they would run short before they even got started. Great news – if you are reading and investing in books on how to be successful and how to grow wealth you are on the right track. After all, some of the best books on the market have studied millionaires and their methodology is based on just that, because really if you want to be a millionaire who better to study?
Most millionaires have been right in some of the things they’ve done and some of been right in most of what they’ve done. Past that, you might be surprised to discover there isn’t that much different between their stories of success.
You might be surprised to learn that you could very well have a millionaire as a neighbor. Most millionaires do not lead extravagant lives. They live comfortable but they watch for sales, use coupons, buy in bulk, search for deals, refinish rather than replacing their furniture, and they are very practical, even frugal, in nature. As their wealth grows, they remain that way.
Another common trait among millionaires is that they are not afraid to take risk. Don’t mistake this for taking foolish risks on get rich schemes. On the contrary – they do their research and take calculated risks on what they believe will make them money. But they do lose to and they are willing to take that risk. If they fail, they don’t quit. They dust themselves off and they go at it again.
Millionaires know how to dream big. They knew how to dream big long before they were a millionaire and this keeps them focused on making more money not spending less. You can save half of what the guy next door saves and still end up ahead thanks to what’s often referred to as ‘silly behavior’ in investing. Translated this means you are busy chasing the next get rich investment rather than investing in an index fund and investing small amounts every month to average your costs of investment.
It seems the essential ingredients in the recipe to wealth is to begin with inspiration and focus. Once you start to enjoy the money coming in you spend less than you make (that means no living on credit cards) and then you take those savings and you invest them wisely. It’s really that simple.