Who Wants To Be A Millionaire
A new study by DataMonitor says the number of American millionaires
rose from 7.3 million in 2002 to 8.5 million in 2004. At the
current 7.1 percent annual growth rate, we're creating a million
new millionaires every year, a total of 12 million millionaires
by 2008.
You can join those folks.
Here's the secret: It's all in your head, your attitude, your
state of mind. If you want to retire a millionaire, you can.
You control your mind. A few decades in business convinced
me of this one simple truth: Becoming a millionaire is all
in your head. It has little to do with wealth-building techniques,
tools and rules.
In fact, you could even forget
all the usual stuff: asset allocation, stock picking, savings
plans, budgeting and so on. I know that's what advisers, pundits,
brokers and other experts tell you to focus on. But if you're
not in the right state of mind, none of that matters.
Seriously, I've read all the
books: "The Millionaire Mind," "Instant Millionaire,"
"Automatic Millionaire," "Millionaire Next
Door," "One Minute Millionaire" and many more.
I even wrote one, "The Millionaire Code."
But I keep coming back to
this one simple fact: It really is all in your head! Period.
Here are 10 tips I picked up over the decades, tips that'll
help you become one of America's next millionaires:
1. Getting rich isn't about
money
Peter Lynch says if you spend
15 minutes a year studying the economy, that's 10 minutes
too many. And when money guru Ric Edelman researched 5,000
millionaires for "Ordinary People, Extraordinary Wealth,"
he discovered that millionaires spend an average of just six
minutes a day on personal finance. They have better things
to do. Get a life!
2. Accentuate the positive
Most of us have read books
like "Success Through a Positive Mental Attitude."
That message was summarized for me by a U.S. Army Special
Forces instructor, a veteran of 26 years: "If you have
a guy with all the survival training in the world who has
a negative attitude and a guy who doesn't have a clue but
has a positive attitude, I guarantee you that the guy with
a positive attitude is coming out of the woods alive. Simple
as that."
3. Think differently
Go inside "The Millionaire
Mind" with author George Stanley: "They think differently
from the crowd ... It pays to be different." Yes, being
different helps build wealth. That's the central theme of
his work: Don't fit in, go your own way.
4. Quit doing what you hate
Many people live in quiet
desperation, waiting for retirement, doing something they
hate. Marcus Buckingham put it very simply in his new book,
"The One Thing You Need to Know:" Figure out what
you don't like doing then stop doing it.
5. Do what you love
You've heard all the pep talks:
Follow your bliss; do what you love, money will follow. Never
forget Stanley's bottom line: "If you are creative enough
to select the ideal vocation, you can win, win big-time. The
really brilliant millionaires are those who selected a vocation
that they love."
6. Find 'the real you!'
Working in a career that doesn't
fit right is exhausting and stressful. You're less efficient,
less productive. Get in sync with the real you. Get help from
a career counselor. Read books on personality types. In "The
Millionaire Code" I identify 16 basic types to help people
focus on their dreams. Buckingham's "Now Discover Your
Strengths" is another example. Find the real you, go
for it and never turn back!
7. Invest in 'You, Inc.'
Tired of working for Corporate
America? Become an entrepreneur. Create your own business.
Read Kiyosaki's "Rich Dad" series. Browse through
"EBay for Dummies." Open a Starbucks franchise.
Most millionaires work for themselves, pay less in tax, live
below their means and build equity in themselves.
8. Live with passion
Believe in something. Listen
to the still small voice. What is it: Love, family, jazz,
art, golf, writing, fishing, inventing? Whatever it is, it's
you. And it's priceless. My mentor Joseph Campbell said: "If
you follow your bliss, you will always have your bliss, money
or not. If you follow money, you may lose it, and you will
have nothing."
9. Live in the moment
A good friend is in his 60s.
When I mention retirement planning, he laughs. He talks about
his next vacation. His new jet skis. He's survived divorce,
bankruptcy, foreclosure, health problems. He has a successful
business, nice house, lots of debt. He's at risk. I couldn't
do it, but he's happy. We all have friends like him, living
in their moment. You need to live in yours.
10. Make a difference!
Most of us focus on our little
world and our future. Millionaires dream of making the world
a better place, with visions of a better tomorrow for everyone.
They love helping people. I'll bet you have such a dream.
Discover the real meaning of life by going beyond yourself
and make a difference!
Remember, being a millionaire
is all in your head. If you got the right attitude, if you
feel it, if you believe you're a millionaire, you're already
there. The money will follow. Trust me.
| Authors Details: Who Wants To Be A
Millionaire - Paul B. Farrell |
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