To begin with, give yourself the installation that you don't want to be a millionaire, you want to become a multimillionaire.
If you think a million dollars can give you financial security, it's not.
Given the instability in the economy, financial markets and the political situation in many countries around the world, it is no longer relevant to assume that a million dollars will provide you and your family with real security.
Research conducted by Fidelity Investments last year showed that 42 percent of millionaires do not feel rich. To feel rich, they will need another $7.5 million of investment assets.
This article is not about how to save a little bit over a lifetime. It's about how to create a multimillion-dollar fortune and enjoy the creation process. To begin with, let's look at the 7 secrets of multimillionaires.
The first thing to do is to set yourself up that you want to be a millionaire.
I started from scratch: there was no money, there were just ideas and a lot of hard work aimed at creating a net asset value. The first step was to make a decision and set a goal. Every day for many years I have been repeating: «I am worth more $100 000 000!»
There is no shortage of money on planet Earth, only a shortage of people who think about it correctly. In order to become a millionaire from scratch, you have to stop thinking like a poor person. I know what I'm talking about because I was raised by a single mother who did everything possible to provide for three boys and make ends meet. Many of the lessons she taught me are imbued with a sense of fear and poverty: "There are people who are hungry, so eat what you have," "Don't spend anything," "Money doesn't grow on trees." Such thinking will not allow you to create real wealth.
Multimillionaires who have independently created their fortune are motivated not only by money. Although I have always wanted wealth, to a greater extent I have been guided by the need to contribute according to my potential. Multimillionaires don't cut rates when the situation gets tough. Rather, they raise expectations for themselves because they see the difference and what they can do for their families, companies, public and charitable organizations.
I've been studying rich people since I was 10 years old. I read their stories and watched what they had to go through. These are my mentors and teachers who inspire me. You can't learn how to make money from those who don't have that much. Who says: «Money won't make you happy»? — People without money. Who says: «All rich people are greedy»? — People who are not rich. Rich people don't say that. You need to know what people are doing to create a fortune and follow their example. What are they reading? What are they investing in? What drives them? How do they keep motivated and fired up?
Rich people treat time in a special way. They buy it while poor people sell it. The rich understand that time itself is a more valuable resource than money, so they hire people for things that they do not know how to do, or for things that it is impractical to spend their time on, for example, for household chores. But don't kid yourself that rich people don't work hard enough. Financially successful people devote themselves completely to the pursuit of success and work until they feel victory in their hands, and not just work from 8:00 to 18:00.
Rich people don't spend money, they invest. You buy a house and you can't pay for it. A rich person will buy an apartment in a building that generates cash flows, pays for it and has a profit from it. You buy a car for comfort and style. The rich buy cars for their company, and they pay for them, because cars are used to generate income.
Really rich people never depend on one source of income, instead they create several. My first business was related to investing in real estate. For many years, he generated a seven-figure income. After achieving good results in the real estate business and business consulting, I plunged into the third business - software development, helping retailers improve customer service..
You may be surprised to learn that rich people want you to be rich too. It's a mystery to them why others don't get rich. After all, they know that they are not some special people and that wealth is available to anyone who wants to move towards the goal with concentration and perseverance. Rich people want others to be rich too, for two reasons: firstly, this way you can buy their products and services, and secondly, because they want to "cook" with other rich people.