Steps to Becoming a Millionaire

Elizabeth Tabian-Sosin
You, like everyone, wants to be financially secure. But, it seems like every idea that could help you be secure will cost you a small fortune. Which you don't have. If you did, you wouldn't need to worry. Right?

There are many courses and coaches that will tell you how to become a millionaire, but most charge exorbitant prices for this information.

There are more simple ways of becoming a millionaire though. You could inherit wealth from that rich old uncle, who never used a bank to keep his money safe. Or, you could marry a person from a well-to-do family. You could also create something yourself or build a franchise by tapping into someone else's creative ideas.

All you have to do is be committed to following your dream and invest in yourself . No one ever said it would be easy, but the eventual rewards would definitely be worth it.

Here are some ideas from successful millionaires:

1) Save Money, Don't spend Money

2) Develop a sound financial plan and stick to it

3) Avoid using credit excessively

4) Don't get hung up on material items. It's either the money or the items, it can't be both

5) Invest! It takes money to make money. So, even a small investment in a no load mutual fund will reap big benefits. (This is something that I do, at my Dad's urging, it WORKS!)

6) Use a financial planner

7) Start your own business. Entrepreneurs are a huge percentage of today's millionaires

The important thing to remember is that in order to become a millionaire, you have to set goals. Then, never stop working to achieve those goals. These goals should consist of both short and long term objective. Make sure that the short term objectives build toward the long term goals. Write your goals down and review them on a daily basis.

Live hard, Work hard, but be smart in order to achieve your goals. Balance your passions, goals and your assets and you'll be well on your way.

Another thing to consider is attitude. Something my mother once told me was: Attitude is everything. If you have the wrong attitude, success is difficult to achieve, if not impossible. I've learned that working hard can help me achieve the goals I have set. The same thing holds true for anyone who wishes to become a millionaire.

There is no set get rich scheme that will make you a millionaire, but if you are smart about it, you can achieve the goals you set. And if you are lucky, you may just become a millionaire.

Don't waste your money on courses that tell you how to get rich quick. You aren't rich if you are in debt from buying tuition. The suggestions for becoming a millionaire are still the same, no matter who you talk to, and according to one finance firm they are still:

1. Develop a financial plan

2. Save, Save, Save!!!!

3. Live below your means

4. Lay off the credit cards

5. Make the most of your money

6. Start your own business

7. Get professional advice

Invest wisely, save wisely, set goals and be smart with your money. These are the simplest ways to becoming a millionaire. Talk to others who have been successful with their investments. Talk to your parents. I speak from experience when I say that sometimes the best financial advice can come from someone you least expect. Dreams aren't realized overnight. But, they are not impossible! Follow your plan and set those goals. If you can save the money you waste on buying lunch everyday, you could get started today on becoming a millionaire. It's not hard. So, just do it!

Published by Elizabeth Tabian-Sosin

I am a 30 something mother of an Autistic child. I have many different interests, including writing, reading, scrapbooking and SciFi. I am recently obtained my Associate Degree for Administrative Assistant....  View profile

6 Comments

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  • amin kodoury1/6/2008

    bank** sorry.. that means if you have $100,000 saved for a house and you put it in the bank for 5 years you will double your money to $200,000 in 5 years. better than the 5% canadian and american banks give. in fact many american banks do this and take peoples money and invest there gaining 20% and give the people 5% back what a rip off.

  • amin kodoury1/6/2008

    if you invest in irans back they pay 19% interest back every year.. it has been constant between 15-25% over the past 10 years :)

  • PHILLIP TOBIAS11/30/2007

    Yup, saving is key. Even just a little bit adds up!

  • julz11/15/2007

    =)

  • Laurel1nd11/13/2007

    (:

  • Linda Stamberger11/11/2007

    Sounds good, especially the credit thing, the worst trap there is!!!

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