Become a millionaire in 10 easy steps

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    Becoming a millionaire is something most of us dream of at some point. We look at those who have great wealth, how they got there and how we can get there too.

    However, the road to wealth requires patience, but the steps required to get there are relatively simple.

    If you want to know how to become a millionaire, just follow the steps below to start your journey to financial freedom.

    Steps to becoming a millionaire

    If you want to know how to become a millionaire, just follow the steps below to start your journey to financial freedom.

    1. Change the way you think

    A negative mindset – what I like to call «lack of» mindset – is, in my humble opinion, a major obstacle to attaining wealth or anything else.

    If you constantly think of yourself as poor, you will make spending decisions, both consciously and unconsciously, that will eat away at your wealth.

    The subconscious «What’s the use? I’ll always be broke.” Message lets you think about short-term happiness about your spending decisions, rather than thinking about and making spending decisions that align with your long-term goal.

    Start seeing yourself as a wise person who has the knowledge (get it if you don’t have it) to build wealth, and loves yourself enough to make wise money decisions that build wealth are conducive and net worth increase will soon follow.

    2. Commit to continuing education

    If you are really interested in becoming a millionaire, turn off the TV and start educating yourself on how millionaires live and the things they have done and done to make them millionaires.

    Millionaires and other successful people live differently than 95% of the world: That’s why they have more money and success than 95% of the world.

    Start educating yourself about how they live their lives and make decisions; Then you decide to learn how to think like a millionaire.

    3. Develop a written plan

    If you are serious about becoming a millionaire, it is important to take the time and put your plan to become a millionaire on paper.

    After learning about millionaires and how they live, work and invest, develop your own plan and write down the steps you will take to transform your current financial situation into a Mr. or Ms. Millionaire.

    Decide what to do, what to stop, what to sell, and what to buy that will increase your net worth. Make a solid, intelligent financial plan, and then follow the plan.

    4. Stop buying assets that are declining in value

    Broke people generally have a habit of buying only depreciating assets. Instead of investing in real estate, they buy new cars. Instead of investing in index funds, they go to the casino.

    Instead of using unexpected funds to increase their net worth by paying down debt or investing, they use the money to go on vacation.

    None of the above is bad in and of itself, but the habit of buying declining assets rather than appreciating assets will surely kill any chance of achieving millionaire status.

    5. Start living below your means

    Choose a percentage – any percentage – of your income and turn it into your new income by investing the rest in investments or savings. Just start living on say 90% of your income and pretend the other 10% doesn’t exist.

    Then use that 10% to make smart investment decisions that fit your investment style. It won’t be long before you get used to living on less and won’t even realize that 10% is missing from your budget.

    In the meantime, these 10% will work to make you a millionaire.

    6. Start showing your dollars as an employee

    Instead of looking at your money as something to gamble with, start looking at your dollars as employees.

    You can keep them and hire them to work for you and grow your wealth, or you can lay them off (ie spend them) and have fewer employees to grow your business – the business of becoming a millionaire.

    A shrewd businessman works to grow and expand his business to ensure future success. Be a smart businessman and use your dollars as employees whose job is to help you build your wealth through smart investing.

    7. Refusing to conform

    In the Bible there is a verse in Romans that reads «Do not conform yourself to this world, but transform yourself through the renewal of your mind, so that you may prove what the good, acceptable, perfect will of God is.»

    When it comes to achieving millionaire status, it’s important not to conform to this world. The majority of this world believes that keeping up with the Joneses and showing off their success with «stuff» is the way to go when in reality their accumulation of debased assets is killing their chance of becoming a millionaire.

    Don’t make this mistake and fall into the «Follow the Leader» pack. Instead, pave your own path to financial freedom and show others how to follow you.

    8. Learn how to earn passive income

    There is nothing better than passive income to support you on your way to millionaire status. When you make your money work for you in a way that requires little to no maintenance on your part, you can find other ways to make money or just enjoy life.

    Learn about smart ways to earn passive income and implement passive income ideas that fit your lifestyle and passions and watch your bank account grow.

    9. Make a decision to persevere

    Anything worth having is worth waiting for. Your road to becoming a millionaire is likely to come with obstacles and setbacks. Unexpected costs arise. Investments will lose money. Your job could change.

    Accept that those setbacks will happen, and when they do, choose to dust yourself off, get back up, and try again. As the old saying goes: There is no failure other than trying no longer (Elbert Hubbard, an American writer and publisher).

    Make a decision to keep trying despite the setbacks and millionaire status will come.

    10. Analyze your plan regularly

    Life changes, so your plan to become a millionaire must be open to change as well. Analyze your millionaire plan quarterly or semi-annually. Determine what works, what doesn’t, and what takes more time to see if it works.

    Think about how your goals and life have changed over the past few months and see what adjustments, if any, may need to be made that fit your current lifestyle and still help you achieve your goal of millionaire status reach.

    summary

    Learning how to become a millionaire takes time, but as so many have shown, it’s a possible dream.

    For those willing to make the necessary sacrifices, implement a smart plan, and endure the wait, millionaire status is entirely attainable.

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