How Do Millionaires Make Their Money?

How do millionaires make their money? Most of them work extremely hard.

Living in Chicago, and playing assistant to several lawyers, I've known a few millionaires in my life. I know what they're like because I have to play custodian to their paperwork.

Now, not every millionaire is the average, many are spoiled brats who were born into money. Here are the traits of the millionaires that I've met:

Millionaires WORK at least seventy hours a week.

This is a big one. The attitude is that time spent NOT MAKING MONEY, is time wasted. So, every free moment they had was USED to make more money. Even during leisure time, business calls were taken, notes were written, memos were handed out.

Millionaires LOOK at the big picture.

One of my bosses would consistently float hundreds of thousands of dollars in loans. Every day was a new piece of real estate, or development. Funny thing, the guy didn't know the price of a gallon of milk! He was focused on big things. He moved mountains, not molehills.

Millionaires DO not lose money.

It's a one-way street. Money goes in, not out. Millionaires are CHEAP. Contrary to the public image of people like Sean Combs, (who uses parties as publicity), millionaires do not spend money. They rake it in.

Millionaires FIND new ways to make money.

Millionaires are incredibly resourceful. They find ways to exploit simple things for profit. You could drop a millionaire in the middle of sub-saharan Africa, in a few weeks they would be making thousands of dollars! Millionaires see opportunity IN EVERYTHING, not LACK OF OPPORTUNITY. Don't forget, Post-it notes are a million-dollar industry, and that is the simplest idea.

These millionaires worked exclusively in a few areas; they seemed to be at the top of their heap. While I'm sure there are other ways to earn money, it seemed like these areas were the easiest to earn money in. The industries they specialized in: real estate, trade, software, business development, stocks and bonds, medicine, and the legal world.

The main trend I say was that the millionaires had a JOB in the industry, and a business associated with the industry.

For example, the millionaire lawyer made several hundred thousand dollars per year, but he also owned several large buildings, and had a diversified stock portfolio. He made as much money working as he did from his real-estate.

The real-estate executive had a high-paying job, but he also had invested in Real Estate Trusts. He earned money from investing as well as his job; and he probably also had several mutual funds available.

The doctor was extremely talented. He was an anesthesiologist; he worked for ten years, earning several hundred thousand dollars per year, and he retired at age 45. He also had a few patents available from device modifications.

The options trader earned a million dollars a year from his job; he lived off of $20,000 and wore second-hand shoes. He was an odd-ball, but he certainly earned the most money out of all the millionaires I knew. Of course, he was also extremely talented; trading is a stressful job.

Hopefully after reading this article, you will be inspired to go out and earn your million-dollar paycheck.