Becoming a self-made millionaire is something everyone dreams of. However, very few actually achieve. With excuses so easy to come by, people get lost along the way and become complacent when, truth be told, it’s not the hardest thing in the world to do.
The Millionaires of Today
Most self-made millionaires today were not born rich, sling shotting their success off the backs of their families. A Forbes article shows that 59% of the Forbes 400 are self-made men and women. That number is continually on the rise as online businesses are developing.
They all went through the same stages of life as you and me. They got out of college indebted and struggled with it for the first years of their career. So, what did they do differently?
What Self-Made Millionaires do differently
“After you become a millionaire, you can give all of your money away because what’s important is not the million dollars; what’s important is the person you have become in the process of becoming a millionaire,” Jim Rohn says. He believes that being happy with yourself is an essential step in becoming a self-made millionaire.
This way, you are free to focus on the more pragmatic aspects of this endeavor. Check out this article, which shows a different and helpful way of looking at your life.
Thomas Stanley and William Danko, on the other hand, believe budgeting is the way to earning your first million. They talk about this in their book, The Millionaire Next Door. In their book, they show how careful self-made millionaires are about spending, and how they always keep a close eye on their bank statement.
Saving up is another thing any self-made millionaire has in common. Everyone seems to agree that 10% of what you earn is a good amount to deposit in a