Anyone who knows me well, knows that for me 2016 is all about reaching the 6-figure mark in my personal salaries and earnings. While that goal is still in tact and I’m well on my way, I would be lying if I said the 7-figure goal wasn’t too far down the road. I mean, who DOESN’T want to be a millionaire?? Whatever your goal is now, if the end goal is eventually to become a millionaire, now is the time to prepare your self and start the process of reaching 7-figure status.
If you’ve done your research, you’ll find a lot of articles that say, “Make Your First Million in 3 Easy Steps” or “Millions Made Easy” but the simple and obvious truth is that it’s not easy. Becoming a millionaire (without a trust fund or a winning Powerball ticket) takes disciple, perseverance and most importantly hard work. The next 6 tips are major keys to success (word to DJ Khaled) if you plan to join the Millionaire Club.
1. Believe in Yourself
Over and over again I’ve heard and learned that our thoughts become things. In order to become a millionaire you have to first believe that you will become a millionaire. Daily affirmations and positive-I statements send clear messages to the universe and to those around you that you mean business. Start making definitive statements about reaching your goal of a million today. “I will be a millionaire.” “I will get the right opportunities to position me to make a million plus.” “I am capable of building a million dollar business.” Say it out loud and often. By the time you do reach millionaire status no one, including you, will be surprised. You’ll just be the girl/guy that always said they would make it.
2. Recognize the Big Picture
Many of us think day to day, and week to week. We live task by task, project to project, job to job. My mother would call this not being able to see the forest for the trees. What she means is that you can’t be worried about every thing as a single occurrence or task. In fact, nothing in this life is completely singular, we are all connected and everything is somehow associated with something else. While daily and weekly goals are important to short term success, they have little bearing on our long term success. You have to be able to see your big picture. This week take some time and really think about your end goal and how your day to day actives can play a part in the bigger picture.
3. Spend less. Save more.
Speaking as a person who online shops regularly and can’t leave a store without buying SOMETHING this is the toughest for me, and as a result, the area that I put the most emphasis on. Finding ways to save is really not as hard as we think. It’s getting our nails done once a month instead of every 2 weeks. It’s regularly shopping around for lower auto or homeowners insurance policies. It’s cooking instead of eating out (which is healthier too, so double win here). It’s choosing to save 10% of our salary, even if it cuts into our play money for the weekend. This is where discipline counts. If you truly want to be a millionaire, you’ll make a change and save some extra coins.
4. Lay off the credit
Let’s be real. Good credit is a mofo. You can get whatever you want, whenever you want and pay for it later, right? Spoiler alert! Getting what you want now is going to keep you from getting what you want later (millions on millions). Being in debt means less cash flow. Less cash flow means less savings, and more spending. Do you see a trend here? Bottom line is this, if you can eat it or wear it, don’t charge it. And if you can’t pay it off in 2-3 months definitely, definitely don’t charge it!
5. Immerse yourself in the Millionaire Lifestyle
Learning the lifestyle of the wealthy is an important key that will help keep you intrinsically motivated. Understanding and having little glimmers of what’s to come is enough to keep you focused on your goals and what it will take to get there. Go to a mansion open house, test drive the 2016 Range Rover, take a gander at the newest diamonds at Tiffany’s. These activities are free, but are a great reminder that possession of them will take that dedication, perseverance and hard work that I mentioned before. So, commit to luxury immersion a few times a month.
6. Make Your Money Work for You
A good investment is one of the best things money can buy. The decision to invest can be tricky, but with sound advice from a trusted Financial advisor, it can be a critical key to success in becoming a millionaire. Do your research and find credible FDIC insured financial institutions where you can meet with an advisor to discuss your goals and methods to reach them. If you’re the type of person who is risk averse, start with something conservative like a mutual fund. If you’re more of a risk taker, get some advice on the best stock to buy in the stock market right now. With the money you’ve saved, and the advice of a trusted financial advisor, your money could be potentially working for you while you sleep.
See you at the top!