How to Become a Millionaire

By: James E. Setters

Do you know that you are born to be a millionaire? Let that soak in for a minute. By merely being born in the U.S, Canada, UK, Singapore, you are pretty much destined to be a millionaire. How is that so?

If you are born in these countries, you will definitely earn more than a million dollars in your lifetime. Yes, more than ONE MILLION DOLLARS will pass through your fingers. 

How to Become a Millionaire
So, why aren't many people in those countries wealthy?
Why don't we all retire and live terrific lifestyles? The main reason is;

  1. We are not taught about about money and what to actually do with money when we get it.

  2. We spend more than we earn since we get our millions in partial payments. But, wouldn't it be cool if you got it all in one lump sum? The problem is that we get it incrementally, or in periodic installments. Maybe you get yours weekly, or bi-weekly, bi-monthly?

1) Step 1 - How to become a Millionaire
It does not really matter how the money arrives. 

  • As shocking as this might sound, in order to remain wealthy, you have to learn to keep your hard-earn money or at least most of it.
  • A millionaire who spends his million is just someone who busts his hump every day. It does not involve picking a penny stock, and hoping someday you will be the next Warren Buffet. It does not require you to win the Lotto.
  • In fact you have already won the lottery. Just that your lottery now pay the winnings to you in installments. Dont be the man who won a Lottery but died Poor. 

2) Step 2 - How to Become a Millionaire
Stop the temptations to spend your million. 

Since we get our million on the installment plan, we know there is always something more coming right around the corner tommorrow or next month. There is comfort in 'tomorrow'. It is easy to get into a buy now, pay later mentality.

  • A nice car with nice installments,
  • A beautiful house with beautful installment payment plan
  • A Holiday in Europe.

3) Step 3 - How to Become a Millionaire
Safeguard the money you are almost guaranteed to get.

Now that your money is starting to grow, leave it alone. Do not be attracted by quick and easy ways to triple your wealth. Dont spend current money to get future money. A bird in hand is worth two in a bush. Who said that? Avoid all these schemes

  • Trying to make a fortune in real estate
  • Investing in internet marketing
  • Sympathising with people and lending them money
  • Investing in friends who have the next big idea that will become the next Google or Facebook. 

The list goes on and on. Unless you learn to stop this, the reality is you will never become a millionaire. You will acquire the money but you will alway fail to defend the cash in your hand. 

How to become a Millionaire?
There you have it. The 3 best kept secrets on how to become a millionaire. 

  • Keep Your Wealth
  • Remove the temptations to spend your wealth
  • Safeguard the wealth you are almost guaranteed to get

If you thought this way, you would not be the spender they need you to be and you will easily become a millionaire. This is why Warren Buffet famously said, his investing rule number one is 'Never Lose Money'.

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