Can I Really Be A Millionaire?
Am I A Millionaire?
Some of you reading this may be assuming that I am already at the millionaire mark. The truth is I am not yet, but I am on my way.
I am a young mother with another baby on the way who is TIRED and FED UP of living pay check to pay check so I have researched, complied, read every book I can get my hands on, and all but scoured the earth for any way to break the pay check to pay check cycle. I don't want to just stop there though. I want a fat $1,000,000 in the bank or more and that isn't even my retirement money goal!
Sure those numbers may seem big and ambitious, especially for someone who currently works in a position in fast food.
The defining factors that set the wealthy apart from everyone else is this: They don't stop. They keep investing, reaching, working, trying, and not giving up. They are not content to be where they are because they are trying to achieve more.
I'm not saying never be happy. I'm not saying that you shouldn't enjoy your life if you aren't wealthy! I'm saying that you need the drive and the will power to ask yourself, "How is my financial life now, going to affect me when I cannot work anymore?"
The truth is, when I started this journey I was one paycheck away from being homeless. I looked at my children, who I had to say no to for just about everything in the store, only able to afford what I absolutely had to get for the house and food, and I decided. In that moment I decided this was not good enough for me, it was definitely not good enough for them, and I wasn't going to settle anymore. Somehow, someway, I was going to break this circle of financial despair.
Getting Past Status Quo
The first most valuable thing that you need to know to get to the millionaire mark, is that Status Quo has to go.
You may be asking yourself, "Well why does that even matter?" I'll explain.
Some magazine that you like is advertising this gorgeous little purse, the catch? They want $500 for that purse. Of course you know at this point in your financial life you cannot possibly afford that. But what happens when you can afford that? Is a $500 dollar purse really a good investment? Will it ever return any money to you? What are the chances that you will spend all of that money on that one purse, only to leave it hanging in your closet to collect dust after you get bored of it? Pretty likely, right?
The key here is to living below your means, no matter how much money you can obtain. If you are middle class now and it is the "thing" to have nice clothes and eat out frequently, STOP. If you have the money to be spending on luxuries like these things, then you have the money to be saving and working towards investing! Don't let people convince you in this materialistic work that you need stuff, when the truth is, you don't.
What you do need is a retirement fund. An emergency savings. A healthy bank account. And a future you can depend on because you prepared yourself for it. Where are those fancy clothes and all of those dinner nights going to leave you when your eighty-five and cannot work anymore? Or even sixty and want to retire because you are just tired?
Kick the Status Quo to the curb and start taking to necessary steps to get you moving in the right direction to being a millionaire!
The next important thing to remember is that anywhere you can save money, do it!
Don't spend money that you do not have to. Don't eat out unless it is on rare, special occasions, and even then if you can snag a coupon or discount for where you eat that is fabulous!
Trade in the Starbucks coffee every morning for saving $5 a day instead. Pick up loose change you see laying around and toss it into a piggy bank and let it accumulate.
Use coupons to grocery shop and shop sales. Buy clothes when they are on sale, out of season, or offering a good deal on them. Every penny that you can save is a penny that you can put towards your future. A penny may seem insignificant, but one day, it will mean the world combined with all of that other hard earned money you have stashed away!
Get rich quick schemes don't work. There may be a handful of people out there who have won the lottery or publishers clearing house, but think about this. How many people have lost money to those things trying to win it as opposed the few who actually have? Wouldn't you rather invest that money in something that you KNOW will actually give you a return?
I'm not talking about gambling. I'm not talking about pouring your money into some new investment scam and hoping it works. I am talking about real life, investing your money, and knowing that there will be a return for your efforts.
Start your own business. Buy a foreclosed house and flip-sell it for much more than you bought it for after you fix it up. Sell your talents and abilities online to help other people. There are multiple ways to generate good income but most of them do involve a start up investment or continual investments.
You're never going to get rich working an hourly paying job. So long as your money depends on the amount of time you put on the clock, then you are confined to that number and no more. Sure you can work overtime. Sure eventually you can save up a million dollars and retire, maybe even quickly. But what then? You have no residual income coming in and nothing but the money you racked up to live off of until it is finally gone.
Every book I have read, every video I have watched, every mentor I have heard, they have all told me the very same thing. You have to invest and get money coming in every month that does not require your hourly work to bring it in. Residual income is key.
Don't Stop Growing
The most important thing that I have learned and taken with me in all of my research is this: Don't stop learning.
Go to as many wealth seminars as you can. Watch as many videos as you can about it, and read as many books as you can handle. Whatever you do though, never allow yourself to get to a point where you think you have learned enough and don't need to know anything else.
You could just miss out on the opportunity of a lifetime.
Even if you are on the fast track to success, have a good amount stashed away already, and have clear goals set to get there, talk to someone else who is already there! Find a mentor and talk to them frequently about ways that you can do things better. There is always room to grow and you have to keep your mind open to new ideas and concepts in order to become a millionaire one day!
Don't Let The Money Change You
You may be wondering how this has anything to do with what I am writing, other than a personal belief. In some ways, you may be correct, but in one way at least, you are wrong.
Do not, whatever you do, let the money change you once you achieve it.
The trick to staying rich, is not living as though you are rich. You must live below your means. Live green, save money, use coupons even when you have the money, shop sales, and save as much as possible even when you have hit your goal target. Don't start spending the money just because you have it to spend or eventually you'll be back at square one.
In order to stay living the high life financially, you must live as though you never really got there. Keep on clipping those coupons, keep on buying $20 sneakers instead of $200 dollar designer shoes. You'll thank yourself later and so will your children when you have so much you can pass on to them when you go!
Set off on your Journey to become a Millionaire. Don't give up, no matter where you are in life, you can make it there with hard work and the will power to succeed!