Jun 14

How to Become a Millionaire| Top 6 Tips for Becoming a Millionaire

Millionaire wealth starts with how you think.

Millionaire wealth starts with how you think.

I am often asked “how to become a millionaire”. The latest annual report of U.S. millionaires from the Spectrum Group in Chicago posted an increase of close to 200,000 new millionaires added in 2012.  That brings the total to 8.6 millionaires in the United States alone.

Would you like to know the secret to becoming a millionaire? The fact is, anyone can become a millionaire. It may surprise you but, it’s all in your head. Becoming a millionaire is not as hard as you may think.  It’s all about your attitude toward money and your state of mind.

I know, you’ve been taught, “A penny saved is a penny earned” and many other wise sayings.  You may also have been taught, “It takes money to make money”, which is true if you think the only route to becoming a self-made millionaire is through investing.

Investing is one way of becoming a millionaire.  If you have the time, the talent and the temperament you could become a millionaire in six years.  Check out the simple savings calculator at bankrate.com.All you would need to do is invest $10,000 a month in a stock portfolio that averages 10% a year and you could have a million dollars in 6.1 years.

But, even if you had $10,000 a month to invest and you paid attention to the rules of stock picking, portfolio management and asset allocation, if you don’t have the right state of mind you are not likely to become a millionaire.

Maybe like me, you’ve read all the primers on becoming wealthy like “Rich Dad, Poor Dad”, “Millionaire Next Door”, “The Millionaire Mind” and so on.  If you have you know while there are quite a few “get rich quick schemes”, very few if any lead to millionaire wealth. You cannot follow a get rich quick scheme blindly and expect to prosper.

Becoming a millionaire starts in your mind.Before you can be rich, you must think rich. People who know how to think rich become rich.

Truthfully, books are easy to skim through and set aside. A few years ago when I know I had to change my impoverished thinking or end up penniless, I turned to one of my greatest mentors, Bob Proctor.  Bob’s program on The 11 Forgotten Laws literally transformed my thinking.

How do rich people think and what do they do that is different from the rest of the 95%? Finding the answer to that question has become my lifelong passion.

After nearly a decade spent interviewing and studying the habits of self-made millionaires, here are my top 6 tips on how to become a millionaire.

-1- Make a career of doing what you love.

Financially successful people love what they do.  Their work becomes their playground. What are you deeply passionate about? What do you love doing the most?  Challenge yourself by making a career of it and do it everyday.

Actress Maya Angelou said,

“You can only become truly accomplished at something you love. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you.”

-2-  Don’t follow the crowd.

Millionaires think differently from 99% of the crowd.  While the crowd is busy trying to find a better paying nine to five job, millionaires are busy finding ways to lead the crowd. If you are an employee, you are most likely working for an entrepreneur who understands how to make money from a business.

Find your strengths and unique talents and then use them to move yourself away from the crowd so you can do what you love to do everyday.

Famed Author, Napoleon Hill wrote:

Everyone enjoys doing the work for which they are best suited.

-3- Get Busy.

One of my millionaire mentors, Keith Cunningham taught me that money is available in abundance 9-5to anyone who is willing to trade their time and life energy in exchange for receiving it.

He went on to say, you can exchange your time as an employee and work to help others fulfill their vision or you can get even greater personal results with your time by working for yourself to realize your own vision.  There is an abundance of ways to make more money but everyone gets the same amount of time.  If you lose money on a deal you can always make it back.  But if you waste time, you can never get it back. Therefore, time is a millionaire’s most valuable asset.

If you want to become a lifetime millionaire, get busy on discovering ways that you can work for yourself instead of giving all of your energy and time to an employer.

-4-  Discover your purpose.

Passion increases the more the real you aligns with what you do. Working in a job that you hate is stressful.  Take some time to discover the real you by identifying your life purpose.

The clearer you are about your life purpose, the easier it will be to take committed, powerful and focused action. The main reason so many languish in indecision is because of uncertainty.  Clearly identifying your life purpose will change all that.  You will find yourself waking up with an enthusiasm to be more productive and decisions will come naturally. Money will follow you peacefully as you become more productive and do the things that bring you the deepest satisfaction.

To uncover your purpose, start by answering these simple questions:

  • If everything was ideal in my life, what do I want to accomplish?

  • How can I fulfill my dream of making the world a better place?

  • How do I want to be remembered by  my family and friends?

-5- Accentuate the positive.

Examine your beliefs about money. If your thoughts tend toward, “Making money is hard”, do yourself a favor and pick up Napoleon Hill’s classic book, “Think and Grow Rich” or get Bob Proctor’s book, “You Were Born Rich”.

Both riches and poverty begin in the mind. Direct all of your life and mental energy into the things that you can do to get the life results you want.  Get rid of toxic thinking and emotional baggage.  Stop the life drama.  Stop living your life as if you are a character in a soap opera. To acquire lifetime wealth you must get this: Negativity repels wealth and success.

Negativity repels wealth and success.

-6-  Invest in yourself.

Most millionaires work for themselves. They pay less taxes and build equity in themselves instead of an employer. If you are tired of your soul-crushing job as a wage slave, reverse your course.  Stop doing what you hate and become an entrepreneur.

The best way to start out as an entrepreneur is by starting an online business. Online businesses require very little money to start.  Once you catch on to a few easy-to-learn skills, you can set up an online business in your spare time. Build your online business and when the passive income it generates equals your current take home pay you can fire your boss and start working full time for yourself.

I have tried a number of online “money-making schemes” in order to find what I consider to be the top of the line when it comes to making money from home, and that is Wealthy Affiliate.  The main reason I recommend Wealthy Affiliate is because it is more of an online university for people who are serious about making money from an online business and need to learn how to get started.

The 24 Hour Millionaire Coach’s #1 Recommendation for starting an online business from scratch: Wealthy Affiliate  Click here to:

I would love to hear from you. Be sure to write your comments in the comment section below.

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