How to Become a Millionaire

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Here are 5 formulas for becoming a millionaire. Choose any one that suits you.
  1. Inherit the money. 30% to 40% of all millionaires get their money this way.
  2. Win a lottery. Unfortunately, your odds are greater that you will be struck by lightening.
  3. Convert your money to Indonesian Rupiah. Everyone in Indonesia is a 'millionaire'.
  4. Start and build a company over 10 to 40 years. For everyone who is successful, you will find 100 who failed but the odds are 500 times greater than buying lottery tickets.
  5. Live within your means and save 10% to 60% of your income. Invest that savings in a variety of ways for safety including life insurance, unit trusts (mutual funds), shares (stocks), real estate and business ventures. Strive for a 10% return if you are over

60 years of age or very conservative. 20%+ return if you are 30 to 60 years old and willing to risk more. Stay on top of your investments and have quick exit strategies in place to `park` your money for a time when markets fall. Avoid micro managing your investments.

Riches are not solely dependent upon how much you make.

3 Key Factors:

  1. Stop spending money on non-essentials.
  2. Become a more savvy investor.
  3. Steady, regular investing at a good return. In 10 to 30 years, you should be a millionaire or multimillionaire in USD or Euros.

Michael A. Podolinsky CSP (Certified Speaking Professional)
Developing Productive Leaders and Teams, equipping them with the skills necessary to succeed.
http://www.MichaelPodolinsky.com

 


About

Michael Podolinsky CSP is a speaker and published author. He passionately develops productive leaders and teams

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