Two Ways To Become a Millionaire There are two routes for climbing the Millionaire Mountain: the long route and the short route. First, let’s talk about the long route. The long route is the safest and the easiest. It relies on compound interest. You can literally become a millionaire by investing as little as a dollar a day ($30 a month). Study the following chart. How The Investment of A Dollar Per Day Grows Into $1,000,000 A Dollar A Day Invested At Various Interest Rates For 66 Years Invest In Interest Amount Accumulated (Hidden in a mattress) 0% $24,000 (In a savings account) 3% $77,000 (Certificates of deposit) 5% $193,000 (Corporate bonds) 8% $1,000,000 (Growth mutual funds) 10% $2,700,000 (Aggressive growth mutual funds) 15% $50,000,000 (Real Estate, businesses) 20% $1,000,000,000 (That’s One Billion!) Yes, you can even become a billionaire on the investment of a dollar a day-given enough time and the right interest rate. But this is the long route-it certainly isn’t the way most of us want it. We want it FAST! And that is definitely possible, as we will show you. But while you’re creating rapid wealth, why don’t you also take the long route at the same time? Put aside $50, $100, $500 – as much as you can afford-every month, from now on. It’s simple. It’s easy. It can be automatically deducted from your bank account. Then, if you make a million the fast way, so much the better. But no matter what happens, you’ll still be a millionaire-sooner or later. Agreed? A Dollar A Day, A Minute At A Time No matter your present circumstances, here are the four steps to your first million. 1. Decide that it’s okay for you to become a millionaire. Some people believe that the accumulation of wealth is an unworthy goal. Before you begin you journey to become an Enlightened Millionaire, search your attitudes to make sure you are willing to create wealth in a way that will support your inner beliefs and values. 2. Practice imagining yourself enjoying an abundant lifestyle. All great fortunes are started in someone’s imagination. See yourself living in the home of your dreams, enjoying ideal relationships with friends and loved ones, contributing to the world through your own unique talents and abilities. Imagine the fortune you could create and the good it could do. Believe it and you will see it. 3. Spend less than you earn. But how? Pay yourself first. Deduct 10% off the top of your income, and deposit it into your investment account. Convert all your credit cards except one to debit cards so it is impossible fo you to go into debt. Then live on what is left over. 4. Invest the difference Invest your 10% surplus into investments that can earn at least 10%. A dollar a day invested at 10% interest becomes a million dollars in 56 years. In other words, anyone can become a millionaire by investing only a dollar a day-30 bucks a month. If you want to become a millionaire faster, then invest more money or find ways to make your money grow at higer rates of return. You can become a Millionaire. •It only takes a minute to decide it. •It only takes a minute to visualize it. •It only takes a minute to save it. •It only takes a minute to invest it. A dollar a day-a minute at a time-you can get there. Slowly but surely. Now lets talk about the fast way. It relies on compound leverage. In the whole world of money there are only four major ways of becoming a millionaire. No matter what your background, you can learn to master one of these areas. 1. Investment Mountain: accumulating and trading shares of stock/options 2. Real Estate Mountain: owning, renting and selling real estate properties 3. Business Mountain: Marketing products, services, or ideas. 4. Internet Mountain: expanding possibilities. We call this the Mountain Range of Wealth. A lot of routes can be taken to the top of each mountain. For now, just be aware of the four major money mountains. Make an initial “gut” decision to choose one mountain-something that you sense is going to be your primary investment vehicle. Suppose you were enrolled in a University of Money. Which of the four money mountains would be your major? Which would be your minor? Which one interests you the most? Which one scares you the most? Imagine yourself in conversation five years from now. Try these words on for size. “I made my millions in real estate” “I made my millions in the stock market” “I made my millions with my book and seminar business” “I made my millions on the Internet” Which one/one’s seems right to you? Okay. You’re congruent. You’re motivated. Do you know what Millionaire Mountain you should climb first. We’ve already shared with you that there are only a few Millionaire Mountains. But each of these Millionaire Mountains has several routes or tracks to the top. Each individual track is a unique, systematic way of creating wealth. If you’re not aware of these business tracks, you can’t use them. (Just like if you had never seen an automobile before, you wouldn’t be able to imagine how useful it could be to you.)
Posted on: Tue, 15 Oct 2013 05:41:39 +0000