I’m constantly telling my small circle of friends the same things I speak about here on the blog. Not only does this assist in the whole practice what you preach mentality, but the shit is just that good. It feels good to say it even when they don’t want to hear it. Fortunately for all of us you don’t have to hear it to feel it. With that being said today’s blog is about wealth and becoming a millionaire. Now I don’t necessarily tell them that they need to become a millionaire or even want to for that fact. I’m just telling them at least once every time I see them that they need to get rich before it’s too late. Now if you’re already rich you know you don’t have to be a millionaire to qualify. In America rich is consider anything over $200,000 a year. I just believe anything worth doing is worth over doing. So before you stop reading becoming a millionaire is not out of reach for the ordinary person. It’s going to take hard work, time and investing. Obviously if you’re making below or an average salary it is going to take a whole lot more investing, time and hard work.
According to multiple financial advisers the following rules will make you richer:
NEVER SPEND MORE THAN YOU MAKE
- With life being what it is this doesn’t always work out, but that doesn’t mean there shouldn’t be any effort made regardless of how small the contribution is. Ultimately getting richer only consist of you spending less than you make rather than the opposite which makes you poor.
- Unless borrowing is making your richer, do not do it! I mean unless you have to in order to survive or you’re going to earn more than what you’ll pay.
LOOK RICH OR BE RICH
- Buying clothing, vacations, cars and houses you can’t afford will make you look rich, but will prevent you from actually becoming rich later.
YOUR WELL BEING
- When it comes to your money you should never turn complete control over to anybody. Obviously if you need some sort of surgery you’ll go to a doctor, but other than that if you can do it yourself please do or at the very least understand whats going on.
TIME ISN’T MONEY; MONEY IS TIME
- Do you want stuff today or time tomorrow? Time is not a renewable source like money so once you’re out of time you are out.
Now there’s only so many ways to “get rich” like marrying or inheriting money, getting lucky, owning a successful business or exploiting an unique talent. For most these aren’t options or don’t seem morally sound. But with the images below you’ll see if you can manage to spend less and save with enough practice you’ll become rich eventually.
***This grid assumes you start with $0 and your savings are invested at a 7% annual interest rate.
F E A T U R E D
P R O D U C T S