This action might not be possible to undo. Are you sure you want to continue?
Helping You Out-Think, Out-Perform and Out-Earn the Competition-Risk Free & Guaranteed!
Becoming a Millionaire
The Millionaire's Mindset
When your grandparents lamented that a dollar just isn't a dollar anymore, they weren't just bellyaching. Inflation attacks the value of a dollar, reducing it as time goes by so you need more dollars as time goes on. That is one of the reasons that $1 million is often thrown around as a retirement goal. Back in 1900, a $1 million retirement would include a mansion and a bevy of servants, but now, it has become a benchmark for the average retirement portfolio. The upside is that it is easier to become a millionaire now than at any time before. While you won't be buying islands, it is still a goal worth shooting for. Read on for 10 ways to make your first million. Read: How Much To Save To Become A Millionaire 1. Stop Senseless Spending It's easy to spend your way out of a fortune. Fortunately, the opposite is also true - you can save your way into your first million. Most people working in North America right now will earn well over $1 million during their working lives. The secret to saving $1 million lies in keeping more of what you earn. Just as extending your earnings offers a unique perspective, doing the same with your spending sheds a ghastly light on the waste. If you spend $5 every day of your working life on coffee, snacks, etc., you lose $73,000 of your lifetime earnings, making it that much harder to hit the $1 million mark in savings. (For more, see Squeeze A Greenback Out Of Your Latte.) 2. Prune Your Purchases When you do have to spend, try to get the most utility, not simply the most you can. The difference between great value and utility is a fine line. Buying too much house or too costly a car comes from confusing the two. If you shop for what you need and buy it cheaper than you'd planned, that's a great deal. By keeping the end use of large purchases in mind, you can avoid this drain on your cash. Before 1|Page
remember that Warren Buffet. so that you can put that money to work for you. there are still options under SEPs. Ramp-Up Your Retirement Savings Rather than letting your boss's contribution lessen your load.) 7. (For more on this see Making Salary Deferral Contributions. You may be thinking of tenbaggers or hot issues that return 10 times their value in a few weeks.) 5. see Playing Retirement Catch-Up. (For more on the value of frugality see Save Money The Scottish Way. try to put a little extra into your retirement plan whenever you can. just keep your retirement in mind when you've got extra cash on hand. The important thing to remember with your income portfolio is that capital gains taxes will be applied yearly to any income you pull out. it has been done and will be done again. Build Through Your Boss If you're looking to save $1 million dollars for retirement. (To learn more. Even if you are your own boss. but it takes time and knowledge to make one million solely from a taxable portfolio. then you're left with a much more manageable 14%. Still. Incremental Investing If you've got your retirement portfolios where you want them and are ready to start a pure income portfolio. read Compound Your Way To Retirement. You don't have to jump into the market with your life savings to make money. Keeping abreast of allowable deductions. your employer can be your best ally when it comes to building up retirement funds. it's the right of every taxpayer to try and reduce their tax bills to the absolute minimum allowed by law.) 3. That said. (For more in this vein. With matching contributions. The earlier you start saving and the earlier you get your savings into a financial instrument that compounds. year-on-year compounding that builds fortune for most people. Even relatively small amounts can result in decent returns. making extra contributions a priority will speed up your journey to $1 million and make your golden years that much more golden.) 4. You don't have to eat cat food to do this. still lives in his humble Omaha abode. (See Investing 101 to get started. improving your tax awareness will help reduce the bite. Increasing your tax awareness means making taxes a quarterly chore rather than an annual scourge. but it is the boring. then incremental investing is an excellent way to begin.) 6. (See 10 Steps To Tax Preparation for more. If you think you need to squirrel away 20% of your income for retirement and your boss puts up 6% in matched contributions.paying more than you can afford. Crafty Compounding Time is on your side when you've got compounding working on your savings.) 2|Page . changes to your withholding and changes in tax limits will allow you to keep more of what you earn. Again. Target Your Taxes Another leaky hole you need to plug is the parasitic drain of big government. While you are expected to pay your taxes. Automating your account contributions will make setting your money aside that much easier. a man who constantly jockeys for richest person on earth. the easier your path to $1 million will be. look no further than your boss.
but recognizing that there are companies in Europe and Asia that are just as good (maybe better) as investments in the U. In the first case. starting a business on the side can actually decrease your overall tax bill. Asking for a raise. Peter Lynch. (See The Importance Of Diversification for more.) 9. believed that you should own your first home before you buy your first stock. is usually a good idea regardless of your opinion on real estate bubbles. final and all the hard ones that lay in between. but it has built fortunes for many savvy people. If you own your own home..S. (See Increase Your Disposable Income for more. You don't need to start your own business to pull in a high income.first. one of the greatest stock investors of all time. This doesn't just mean investing in emerging economies like China and India that are producing huge gains. however. buy big and put off saving and investing than it is to sacrifice to reach the goal of becoming a millionaire. spending and investing habits are sound. you still need these traits to reach it. If you are entrepreneurial at heart.) 11. see Investing In Real Estate for more. but you have to be brave enough to take the steps . then you may need to diversify. Reconsider Real Estate Owning real estate provides equity and diversity to your investments. Being a financial omnivore opens up that much more opportunity in times of growth and makes certain you won't go hungry when one source dries up. Increase Your Income There is nothing terribly romantic about becoming a millionaire while working a regular job. Real estate investing isn't for everyone. upgrading your skills or taking a second job will add that much more to your savings and investments and subtract that same amount from the countdown to your first million. and you don't even need to pull in a high income if your saving. Using the tips given here can help you on your way. Diversifying also means not putting all your money into one type of asset. then paying your rent builds up equity. elitist friends. but it is probably the avenue available to most people. (If you feel ready. Owning your own home.8. then someone else's rent builds up your equity. So 3|Page . The Three Ps Persistence. and they hang around the golf course all day with their snobby. patience and purpose are common traits that you'll find in every millionaire from John Jacob Astor to Bill Gates. Even though inflation has brought the value of $1 million down from its lofty perch.) 10. rather than putting you in a higher income tax bracket. more and more financial activity is out there in the wider world. If you invest in real estate. Why isn't everyone a millionaire? Maybe because it is easier to spend now. Read: How Much To Save To Become A Millionaire 7 Millionaire Myths by Claire Bradley provided by We all have are preconceptions about millionaires: they're tax evaders who just inherited their money from rich Aunt Flo. Dare To Diversify If your portfolio is made up entirely of American companies or is even all held in stocks.
the people who just recently acquired their wealth. These are habits that take discipline. Millionaires Are Elitists: We've already established that most millionaires earned their money and not inherited it. drive a Ford. and Lincolns third according to onmoneymaking. The other 80% are what you'd call nouveau riche: first-generation millionaires who earned their cash on their own. "The Millionaire Next Door: The Surprising Secrets of America's Wealthy.com. 6. and worry about their kids' college expenses. 3. with nothing else to do but hang around the golf course. Car payments are an investment with little return. but half of all millionaires are self-employed or own a business. and focus on financial independence first. 7. Many millionaires simply worked. Sounds a lot like the rest of America. It does help to have a college degree. Current tax regulation shifts may change these numbers to make this even larger than that -. but ones we can all adopt to begin growing wealth. and the real facts about the ones who seem to have it all. those in the top 1% of earners. as about 80 percent are college graduates. Millionaires Just Inherited Their Money: According to Thomas J. which is why someone looking to grow wealth avoids high-priced vehicles in favor of a more economical set of wheels.they worked for the money. their kids' college fund and the mortgage just like the rest of us. budget and spend wisely. Millionaires Feel Rich: From the outside looking in. If these facts prove anything.some may be elitists. 1.what's the average millionaire really like? Here are seven millionaire myths.so think twice before accusing the millionaires in America of not paying taxes. 6 Millionaire Traits That You Can Adopt 4|Page . Millionaires Hang Around the Golf Course All Day: Those millionaires are all retired. still go to work. it's that every one of us can strive to become a millionaire -. Those worries are greatest among new millionaires.you can start by driving your old car with pride. Most millionaires worry about retirement. but that's not so. The Bottom Line: Maybe you see a pattern here: Today's millionaires are people who live within their means. Millionaires Don't Pay Their Taxes: Fact: It is estimated that millionaires. pay about 40 percent of all taxes. saved. Stanley's book. Millionaires All Drive Fancy Cars: You can get that idea of the rich guy in a fancy German car out of your head when you think of a millionaire: They actually drive a Ford. Only 20 percent of millionaires are retirees. Most millionaires didn't get their riches overnight when a rich relative died -. but millionaires go to work just like you do. Cadillacs run second on the millionaires' favorite car list. Millionaires Have High-Paying Jobs: It certainly doesn't hurt to be gainfully employed. you would think that millionaires feel rich and secure. with the carmaker topping the millionaire preferred car list at 9. but most are just regular Joes who successfully managed their money. 5. it's how the money gets in the bank. and lived within their means to generate their wealth -. right? Wrong. though only 18% have master's degrees.4 percent. 2. 4. right? Millionaires come in all shapes and sizes -. with a full 80 percent still going to work." only 20% of millionaires inherited their riches.think accountants and managers: regular people going to work every day. It's not as glamorous or fun.
"Think and Grow Rich" (1992). Use training and mentors to refine your strong skills. but his ability to sell himself . 2. The average millionaire doesn't find it until age 45. creating Microsoft Windows in 1985.1. (Want advice from some of the most successful investors of all time? Check out our reading list in Ten Books Every Investor Should Read. Skills: Writer Dennis Kimbro interviewed successful people to determine the traits they had in common for his book. Millionaires also have good social skills. they don't take "no" for an answer. In other words.has always brought him back among the ranks of celebrity millionaires.5 billion to his name in 2009. Just look at David Geffen. (Want to get started but don't have much capital? Read Invest On A Shoestring Budget. bankers for example. In other words. wealth seekers should set lofty goals and not be afraid of uncharted territories. Investing may include securities or starting a business ." Enjoying your work allows you to have the discipline to work hard at it every day. Not just about money. Start investing now. They are willing to take a risk now for the opportunity of achieving something greater in the future. Sacrifice: Millionaires are willing to sacrifice time and money to achieve their goals. Good salesmen are oblivious to critics and naysayers. Bill Gates. 5|Page . Millionaires also tend to partner with others to supplement their weaker skills. If you don't know what you are good at. millionaires spend creating their own path. Harv Eker analyzed the results of a survey of 753 millionaires for his book. He found that they concentrated on their area of excellence. The time and energy everybody else spends attempting to conform. it is a step toward achieving great financial rewards. did just that. The American chairman of Microsoft (NYSE:MSFT) is one of the founding entrepreneurs who brought personal computers to the masses. Salesmanship: Millionaires are constantly presenting their ideas and persuading others to buy into them. his tireless work ethic and sense of personal conviction about artists' potential allowed him to rack up a sizable fortune. Passion: Billionaire investing guru Warren Buffett says "Money is a by-product of something I like to do very much. His fortune has fluctuated over the years. and tends to be 54 (on average) before becoming a millionaire. Since thoughts impact actions.either way. he found social skills were more important than IQ. Vision: Millionaires are creative visionaries with a positive attitude. 3. they also believe they will come true. A self-made millionaire with $4. In fact. But finding your dream job may take time. wealthy people not only have big dreams. this American record executive and film producer was college dropout. Although he didn't take what many assume to be the usual path to success. Just look at Donald Trump. "Secrets of the Millionaire Mind" (2005).) 6.) 5. Gates jumped into the personal computers business in 1975 and held on tight. when writer T. As such.) 4. When consumers began to bring computers into their homes. the world's richest person in 2009. Gates was ready to profit from this new age.whether as a TV personality or as the force behind a line of neckties . people who want to be wealthy should think in a way that will get them to that goal. often love creating new deals and persuading others to complete a transaction. but made millions founding record agencies and signed some of the most prominent musicians of the 1970s and '80s. poll friends and family. (Find out how Warren Buffett's passion for investing led him to a billion-dollar fortune in Warren Buffett: The Road To Riches. Independent Thinking: Millionaires think differently. about everything. People who interact with money for a living.
Divorce And The Dotted Line to learn how to set up your own prenup. William Howey went to check on crews building the Canadian Pacific Railway. Stop That $4 Million Cab! In 2008. Read Marriage. 5. Why? No prenuptial agreement. Don't feel too bad for the pop and rock icon. A $75 Million Marital Mistake Madonna may have a knack for putting out hit records. producing millions of dollars of ore. But Wynn's "dream" turned into a nightmare when." One slight detail the 6|Page . with one seemingly harmless hand motion while hosting a party at his home. Upon returning home he sent them to the director of the Geological Survey of Canada." ("The Dream"). It turned out those "rocks" were copper and the contractor . a New York art dealer. The verdict? The stones were deemed worthless.the wallet. What?! Call That $2 Million Foul. The 25-time gold record winner will pay her ex-better half $75 million as part of their divorce settlement.Thomas Murray . but a high-flying rare art salesman got away with $2 million of McEnroe's fortune. to demonstrate the depth of his gratitude Quint later treated Khalil and 200 of his cabbie-driving comrades to a 30-minute private concert at the airport.) 4.she's still worth more than $400 million. however . Two Rocks and a (Could Have Been) $17 Billion Family Legacy In 1883. highly-prized instruments worldwide. Ref! Wimbledon champion and TV commentator John McEnroe wouldn't let an opponent get away with anything on the tennis court. but her most recent divorce to film director Guy Ritchie will hit the "material girl" where it really counts . A contractor picked them up. It cost Wynn $90 million ($5 million more than it was now worth) for restoration work. That equates to just a little less than $10 million for each year of their eight-year marriage. There are fewer than 700 of the handmade. Dr. Quint fell to his knees in thanks. Six frantic hours after reporting the loss. When the two met. 2. he put his elbow through the famous painting of Picasso's mistress. A $54 Million Hand-Motion Markdown Vegas casino owner and art collector Steve Wynn was entertaining a small group of friends in the fall of 2006 when he decided to show them his prized Picasso "Le Reve.6 Biggest Millionaire Flops 1. Read The importance Of Property Insurance. Quint got a call from the port authority that driver Mohamad Khalil had returned to the station with his instrument. and a year later decided to check out the site where they were found. he found some interesting copper-colored rocks and pocketed them.had discovered one of the world's largest copper deposit. While searching for a lost worker. (A sound insurance policy could have saved the day. He had recently agreed to sell the piece for $139 million to fellow collector and hedge fund director Steve Cohen.) 3. (Don't make this mistake. Lawrence Salander. defrauded McEnroe through an elaborate scam by selling him half-shares in painter Arshile Gorky's pieces "Pirate I" and "Pirate II. Russian violinist Philippe Quint left a $4 million 1723 Antonio Stardivari violin in the back of a taxi after a ride home from Newark Airport. and Howey threw them away.
these setbacks can put a stop to your savings efforts. fixed-income investments aren't likely to get the job done. Start Saving: If you don't save. If your employer offers to match your contributions up to a certain percentage. If you are not prepared. If your employer offers a 401(k) plan. Investing in equities entails more risk. (Want to try your hand at investing in collectibles? See Fine Art Can Be A Fine Investment. Asset Allocation: One Decision To Rule Them All explains how to treat all your investments as a single portfolio to maximize returns. Griffin took a corner a little too tight. (Read Plan To Retire Rich for additional insight into how to develop a course of action to achieve your goals. It's like getting a guaranteed return on your investment. but plenty of people fail to plan. 10 Steps to Retire A Millionaire 1.) 4. and inflation can take a big chunk out of your savings.) 2." in the process. You'll get raises. increasing your savings and decreasing your immediate tax liability. Although he walked away unharmed. but it's true. (Read Build Yourself An Emergency Fund to help structure your finances to avoid financial disaster. Could it get any worse? Actually.5 million Enzo Ferrari for a charity benefit and to promote his 2007 movie "Redline. and maybe 7|Page .dealer forgot to divulge: he didn't own the paintings. it's a risk we have to take if want to see our wealth grow. enrolling in the plan is a great way to put your savings on autopilot. It's a cliché. slamming it into a concrete barrier. "Plan" is the leading self-help advice from athletes. "Redline" executive producer Daniel Sadek. you'll change jobs. you can prepare in advance to mitigate the damage they can do. the rare car was declared a total loss. yes. but is also statistically likely to lead to greater returns. While you can't avoid all of the bumps in the road. (Read Invest On A Shoestring Budget for some additional tips on how to get started. Just moments after taking the wheel. Set the Goal: Nobody plans to fail.) 3.5 Million Ferrari Fiasco Actor Eddie Griffin had the best of intentions when he signed up to drive a $1. particularly when you're young.) 6. be sure to contribute enough to get the full match. Finding the cash to stash may be a challenge. If you are looking to grow your wealth over time. The $1. business moguls and everyday people who have achieved extraordinary goals. you'll never reach your goal. Asset-allocation strategies can help you learn how to make picking the right mix of securities the core of your investing strategy. Simply sign up for the plan and contributions will be automatically taken out of your paycheck.) 5. The car was owned by Griffin's boss. As obvious as this might seems. Get Aggressive: Studies have shown that the majority of the returns generated by an investment are dictated by the asset-allocation decision. For many of us. Prepare for Rainy Days: Part of long-term planning involves accepting the idea that setbacks will occur. far too many people never even start to save. clipped a cone and locked the wheels of the prized car. Save More: Your income should rise as time passes. (Achieving Optimal Asset Allocation can help you minimize risk while maximizing return. but don't let that stop you from pursuing future riches.
car. With that in mind. The key to reaching your goal as quickly as possible is to save as much as you can. read Can You Retire On $1 Million?) That said.schemes. you should increase the amount that you save. kids and all of life's other expenses take a big chunk out of your paycheck. Read: Five Retirement-Wrecking Moves 8|Page . 10 Retirement-Wrecking Moves Retirement should be a time to relax and enjoy the fruits of a lifetime of labor. Unfortunately. (Read Not All Retirement Accounts Should Be Tax-Deferred to learn the advantages of a taxable account. the better your odds of achieving your goals.you'll get married and become a two-income family. As such. Read Managing Your Income During Retirement to find out how to make your hard-earned savings last as long as you need them to. Let's examine 10 mistakes that can sabotage your retirement plans. read Retirement Savings Tips For 55.) 7. for many people bad decisions push the retirement horizon out of reach. invest often and accept that the road to riches is often long and slow.) 9. (To find out why this magic number has lost some of its luster as a retirement savings target and to temper your expectations regarding the lifestyle you will be able to afford during retirement. so invest early. it is imperative that individuals understand the effects of these bad choices and take steps to avoid them.To 64-YearOlds. with lots of planning and discipline. The power of compounding takes time.) 8. (Read Rebalance Your Portfolio To Stay On Track to learn more. you are eligible to increase contributions to taxdeferred savings plans.) The Reality Of Retirement: Retirement might seem far away. you can reach your retirement goals and live a comfortable life after work.) 10.Watch Your Spending: Vacations. (Read why it might not be better for one spouse in a two-income family to leave work in Consider The Outcomes When Cutting An Income. Have Patience: "Get-rich-quick" schemes are usually just that . you need to minimize your spending. Monitor Your Portfolio: There's no need to obsess over every movement of the Dow. (The Beauty Of Budgeting can help you figure out how to make it to the end of the month before you run out of money. Take advantage of this opportunity! (For more ways to save money and increase your nest egg for the fast-approaching golden years. Catch-Up Contributions: When you reach age50. Time Is Money for a discussion of the value of compounding. (Read For IRAs. Instead. Don't let any chance to save get away. Every time more cash comes in to your pocket. Max Out Your Options: Take advantage of every savings opportunity that comes your way. To maximize your savings. the sooner you get started. Rebalance your asset allocation to keep on track with your plan.) 6. check your portfolio once a year. but it when it arrives nobody ever complains about having too much money. Some people even question whether a million dollars is enough. Make the maximum contribution to tax-deferred savings plans and then open up a taxable account too. Buying a home you can afford and living a lifestyle that is below your means and not funded by credit cards are all necessities if you want to boost your savings.
as a result. Unfortunately. see Compound Your Way To Retirement and Why is retirement easier to afford if you start early? Read: Five Retirement-Wrecking Moves 2. This includes the need for more frequent check-ups and preventative healthcare. as well as the need for long-term care. For more tips. On the other hand. individuals who decide to splurge during their early retirement years without any regard for the future may find their bank accounts running dry. Thinking it's Too Late to Get in the Game Some of the common reasons for starting to save for retirement late in the game include pure procrastination. Missing Opportunities While saving can be challenging. Regardless of the reason. Don't let opportunities to increase your savings pass you by. and getting the opportunity to contribute to a retirement plan for the first time after immigrating to the country at an advanced age. there are many opportunities that make it easier. see Can You Retire In Five Years? 3. Individuals who fail to implement contingency planning to cover health-related expenses could find that a large percentage of their savings must be used to cover these costs. For more. For more. While caution should be exercised to ensure that your nest egg lasts throughout retirement. you should look for ways to start saving. This may mean doing without many items that are not basic necessities. see Failing Health Could Drain Your Retirement Savings. Prevent this by ensuring you have adequate health insurance. see Enjoy Life Now And Still Save For Later. even if retirement is just around the corner. Instead. 4. Not Considering Healthcare Needs The need for heathcare increases with age. 5. adding what you can afford can go a long way toward reaching your goal. having to start over after a divorce. many people overlook these opportunities and miss out on the benefits. may hoard their savings to the point of just barely getting by. Even in instances where you can't afford to add the maximum amount that projections determine you need to save for the year.1. Big mistake! For example. 9|Page . Procrastination Many individuals are forced to postpone retirement because their nest eggs are not sufficient. However. Spending Too Much Too Soon or Too Late Those entering retirement are often faced with the fear of spending too much too soon and. living on a diet of bread and water takes caution too. It is possible for individuals to achieve their post-work goals. both at home and in nursing homes. This can be avoided by starting to save early. thinking that it's too late will only compound the issue. For related reading. many employees fail to receive this benefit because of a lack of awareness and understanding. employers that offer benefits under a 401(k) or SIMPLE IRA often include matching contribution features. The amount you will need to contribute each year depends on how soon you start your savings program.
Exceptions apply to qualified plan accounts and 403(b) accounts if you are still employed and your employer allows you to defer beginning RMD from such accounts until after you retire. Learn more about avoiding prohibiting transactions in IRA Assets And Alternative Investments. Engaging in these transactions could result in loss of tax-deferred status for the assets involved in the transaction and.certain income limitations apply. but you would also owe a 6% penalty for each year the excess contribution remains in the Roth IRA. or be used to invest in collectibles. you must remove this excess amount from your IRA by the applicable deadline. Therefore. However. See Missed Your RMD Deadline? 10. in some cases. Failing to Distribute Your RMD You must begin taking RMDs from your Traditional. Making Ineligible Roth Conversions A roth conversion is viewed by many as a good financial planning move because earnings accrue on a tax-deferred basis. loss of tax-deferred status for the entire IRA. and 403(b) accounts the year you reach age 70.5. 8. Similar to ineligible rollovers. any taxable portion of the amount rolled over to your IRA must be included in your income for the year the distribution occurred. your IRA cannot be used as a loan. For example. it can be corrected as a recharacterization. or 40 years to be rich — 10 | P a g e . serve as security for a bank loan. qualified plan. Read: Five Retirement-Wrecking Moves Why wait 20. but you are generally required to pay the penalty first and request the waiver thereafter. Making Ineligible Rollovers to Your IRAs Ineligible rollovers can mean having to pay severe penalties to the IRS. Should you fail to recharacterize an ineligible conversion on a timely basis. In addition. This is not the case because the first amount withdrawn during a year for which an RMD is due includes the RMD amount. Failure to distribute your RMD by the applicable deadline will result in you owing the IRS an excess accumulation penalty of 50% of the RMD shortfall. To ensure that this doesn't happen to you. For example. 7. 9. Making Excess Contributions to Your IRA IRA contributions are limited to the lesser of 100% of eligible compensation or the contribution limit for the year. failure to remove the excess amount by the deadline will result in you owing the IRS a penalty of 6% of the amount for each year it remains in your IRA. You may apply for a waiver of the penalty.6. To learn more. you need to know which assets are not rollover eligible. see Correcting Ineligible (Excess) IRA Contributions. Engaging In Prohibited Transactions You are prohibited from using your IRAs in certain transactions. the amount will be treated as ordinary income from your Traditional IRA and an excess contribution to your Roth IRA. not everyone is eligible for a Roth conversion . a common mistake is to assume that the RMD amount can be taken after the rollover is made. 30. while distributions are tax-free if qualified. If you make an ineligible Roth conversion. For more see Common IRA Rollover Mistakes. SEP and SIMPLE IRAs. Should you contribute more than the allowable limit to your IRA. not only would you lose the tax-deferred status of your IRA assets.
step-by-step system for achieving financial independence in just seven years or less. grow richer each year. The wealth-building secrets and strategies they give you are the same ones they use — each and every day. no-employees way to generate an extra income stream fast Specific "micro businesses" that you can start quickly and use to bring in as little or as much extra cash as you want without quitting your full-time job (yet!) 11 | P a g e . The Seven Years to Seven Figures System: 6 Steps to Automatic Wealth is a densely-packed. You’ll discover: The only two ways to make money Where you should be investing your money right now.When all it really takes is SEVEN? If you're worried about getting burned by financial programs that promise you'll get rich quick — but you also don't have the time or the patience to invest in a savings plan that takes 30 or 40 years to take advantage of the "miracle of compound interest" — then Seven Years to Seven Figures is the wealth-building approach you’ve been looking for. high-energy audio seminar. There’s no theory in The Seven Years to Seven Figures System. and real estate to offer you a complete. no-time. self-made millionaire Michael Masterson draws upon his own experience and that of experts in the fields of retirement. nuts-and-bolts information you need to start taking action and making money fast. investing. Each of the individuals you’re going to hear from is out there actively using and profiting (massively) from these very steps. that will spell out for you — in full detail — a practical and time-and-again-proven way to get rich fast. In this amazing program. and stay rich for the rest of your life. And each one is a phenomenal success and renowned expert on the particular step they reveal to you. This program contains the nittygritty. recorded both live and in studio. Insider secrets to spotting and capitalizing on investment trends and avoid getting burned How to make tons more in the market than you could otherwise using a potentially amazing tool The state-of-the-art secret you can use to control your investment risk The no-capital.
that is. Automatic Wealth for Grads … and Anyone Else Just Starting Out. $53 billion). He is the author of the Wall Street Journal best-sellers Automatic Wealth. 12 | P a g e . proven way to build wealth fast and start living well now! Michael Masterson has developed a loyal following through is writings in Early to Rise. In fact. includes Bill Gates (net worth. and you have to imagine that these 937 people would have a few things in common -. Entrepreneurism Seven of the top 10 billionaires from Forbes' 2010 list are self-made. Power and Persuasion. who started the Microsoft (NASDAQ: MSFT . trying these habits on for size could provide a boost to your bottom line. Listen to an audio clip 5 Billionaire Habits That Can Make You Richer by Tara Struyk provided by As of March 2010.News) company in 1975 while still in his junior year in college at Harvard University. and many of them have similar habits that helped them amass their fortunes. This unforgettable program will give you a practical. they do. according to Forbes. That's a pretty small club. that mentors more than 175. an enewsletter published by Agora. There's a lot of "new money" among billionaires. Even if your personal fortune is miles away from the billion (or even million) dollar mark.000 success-oriented individuals to help them achieve their financial goals. and Confessions of a Self-Made Millionaire. This club of clever elites. Inc.besides their wealth. the world had 937 billionaires to its credit. A crash course in real estate investing that will have you raking in piles of cash while you sleep! A six-figure-a-month (a MONTH!) business opportunity that's easy to run and yours for the taking Why wait decades to start enjoying all the perks and benefits of wealth? Getting rich safely in a relatively short period of time is a goal that’s entirely achievable—and one that will transform your life forever. Masterson has been making money for himself and others for almost four decades. Easy ways to make even a tiny business ultra-competitive The commodity that may be even more valuable than money. 1.
sometimes it takes a while for a good idea to pay off. the company has since become the world's most popular search engine and has radically expanded the internet's scope. Frugality You might assume that a billionaire's drive stems from the for a luxurious lifestyle. His $47 billion fortune put him at No. he had already made and saved the modern-day equivalent of more than $1 million. Risk-Taking One thing virtually all billionaires have in common is that they are willing to take a leap of faith in their pursuit of success. earning Soros more than $1 billion in a single day. Buffett was making and investing his money. some of the world's richest people ascended to their positions thanks to their ability to watch the bottom line. They (fittingly) tied for 24th place on the Forbes' 2010 billionaire list. However. His timing and harddriving pursuit of success in his business helped plant the seed for what would become one of the world's largest and most successful companies. From a very young age. For some billionaires such as Bill Gates or Lawrence Ellison [software giant Oracle founder (NASDAQ: ORCL . but this ultra-rich investor investor's success can be partly credited to his frugal lifestyle. based on a superior search engine that would help this vision become a reality. so they started a company. Take Sergey Brin and Larry Page. 13 | P a g e .Gates may have been in the right place at the right time in terms of developing computer software. for example. It did.like George Soros (net worth $14 billion). Patience Not only do billionaires tend to be able to pounce when the moment's right. with $17. Vision Most billionaires have a vision of what they think the world will be like in the future -.News). But some billionaires have been known to push the stakes even higher -. And the rest. the cofounders' wealth has expanded right along with it.and how they can capitalize on it. is history! 3.News). they also make patience a habit. but he also made the decision to strike right away. Take Warren Buffett. This allowed him to start his own investment partnership. as they say. 2. rather waiting even to graduate. which eventually allowed him to invest in and take control of Berkshire Hathaway (NYSE: BRK-A . 3 on Forbes' 2010 list of billionaires. Launched in 1998. cofounders of Google (NASDAQ: GOOG . This renowned investor and hedge fund manager is known as the man who "broke" the Bank of England by making a multibillion-dollar bet that the British pound would decline in value. this might be dropping out of college to pursue a business opportunity. This pair saw the possibilities for the internet as a tool for opening up the world of information to people. After all. By the time he was 26 years old. 4. 5.5 billion each to their names. Google.News)].
with a net worth of $12. many of the world's billionaires share key qualities such as vision. Bezos is now the CEO of the largest online retailer in the U.. it took seven years before the company turned a profit. and persevered until the world was ready to embrace online shopping. Bezos believed it to be so. Luckily. If you are in need to become a millionaire please contact us. It was a major coup after the dotcom crash. with only a few employees. which left many wondering whether an online business model was viable at all.News)? It was founded by former Wall Street executive Jeff Bezos in 1994.3 billion in 2010.com (NASDAQ: AMZN . and could help you move take a few more steps up your own wealth ladder. free of charge. patience and an incredible fortitude in the face of risk. However.S.Ever heard of Amazon. these billionaire habits are tools that are available to everyone. 14 | P a g e . which it eventually did in fourth quarter of 2001. In fact. The now-major company started in Bezos' garage. The Bottom Line No one said that creating a billion-dollar fortune was easy.