How to become a Millionaire in 5 steps

Some say that you need to sell your soul to the Devil in order to become a millionaire and that is not entirely false. If your life goal is to make enough money to support you, your family and probably the next generation as well, then here are 5 steps on how to become a millionaire.

Do not get your hopes up high, this is not an easy task. If you truly want something, it is not (usually) going to fall out of the sky, except if you desire rain. The first idea you need to implement in your brain before starting is that you need to work, work hard, work until your hands fall off and your head is spinning (not literally of course).

become a millionaire

Even though they say you need luck to be successful given the economy today, I believe every man makes his or her own luck and if you really want something, you will eventually be able to have it.

Step 1: Go where the money takes you

In order to become a millionaire you have to step outside your comfort zone. If up until now you considered health insurance and a flexible schedule as the major upsides of your job, not anymore. Think money! To start becoming a millionaire you need to start raising some money. If the job you love is not delivering as much money as you would like it to, you have to put everything on the table and start making decisions.

For example, if you want to make money as an entrepreneur and start your own business in an area you love, you will first of all need to invest money. How do you get money? By working. If you are fortunate enough to work in an area you love which actually delivers money, read the next step.

If you feel like your current job does not deliver enough cash, you have to start giving out CVs or find more jobs. Like I said before, it is not easy but if you want to reach your $1 million, you have to work hard and start somewhere.

Step 2: Avoid debt

Do not borrow money to start a business that you are not 100% sure about. What is the point in borrowing money, have something now and being in debt for the rest of your life or at least a decade when you can save money now and have your dream come true later on. If you really want to become a millionaire, every penny counts and debts are never the answer.

Step 3: Save with a certain goal in mind

Do not start saving money without having a goal and keep in mind that your goal should not only be “I want to raise $1 million”. Money is one of the only things you need to have to make more money. Do not think that your quest will be over when you have $1 million, think of it just as the beginning of your adventure.

Save money to get more money, this takes you to step 4.

Step 4: Invest what you save

After you are done saving some money, it is time to invest it. You have to make up our mind on what you actually want to do.

I want to start my own business.

I want to invest my money in someone else’s business.

Questions you need to ask yourself:

Is it going to pay off?

Do I/they have a business plan good enough to make my money count?

What am I doing this for?

How can you invest your money in a business?

Here is a guide that might help you out with your investing issues. Do not invest anything until you have read everything there is to read about the stock market and investments.

Step 5: Do not be afraid to dream

Dreaming of something big can often cause us illusions that can be shattered at the smallest sight of disappointment and this is why people are often afraid to dream.

Don’t be one of those people. If you want to master the “Art” behind how to become a millionaire, you have to dream big and whenever you encounter disappointments or bump along your way, do not step back. Fall down and start over.

become a millionaire

There is probably no easy way to become a millionaire available to the general public so you need to choose the way that is the most achievable, the way that requires hard work and management.

 

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