So You’ve Decided to Become a Millionaire. Now What?

Spread the love

Everybody has the opportunity to be wealthy.

Very wealthy, in fact, so long as you spend and invest your money appropriately.

This article will not be an article that gives you the effortless key to become a multi-millionaire today. However, like most of our articles, it is meant to spur thought and help people on the road to self-sufficiency, growth and mastery.

And how to do so without the aid of windfall profits, although we gratefully accept those also!

Wealth Can Be For Everyone

Contrary to popular belief, wealth is not reserved just for a select few. There are numerous stories of “regular” people who made fortunes living “regular lives”. And, absent a major windfall, there are surprisingly ordinary and safe ways to build your wealth.

A great first step in learning how to use your money to make more money (you don’t just have to work to make money) is to start searching. Kind of like everything else for that matter. Seek and you shall find.  I will share with you two of the best resources out there.

Money: Master the Game

My first recommendation for all people is Tony Robbins’ Money: Master the Game. It is a great, fairly easy read for people of all backgrounds and gives inside tips from some of the world’s most legendary investors. These are people whose secrets and strategies “normal folks” could never dream of accessing, but Tony was able get sit down interviews with some of the best, including folks like Warren Buffett, Ray Dalio and Charles Schwab.

I believe that you will find many of the strategies surprisingly simple and easy to use.  You will also find stories of ordinary people with ordinary jobs who turned their ordinary paychecks into millions over time. It is possible.

The Intelligent Investor

If you become hooked and really interested in going down this road, one of the gold standard books is still Benjamin Graham’s The Intelligent Investor. Written about 70 years ago (and updated several times since), it has certainly stood the test of time. It is a much more technical book than Money, so don’t look for excitement and a real page-turner, unless you are hooked on this stuff. In any case, you will see detailed analysis of the market’s performance over time and by asset class, along with Graham’s recommendations for asset allocation.  After reading many books, blogs and articles, I somehow ended up coming back to Graham when I developed my own asset allocation model without realizing it.  Not that that makes my model right, but sometimes the fundamentals stand up over time and in this case they work for me.

Simple and Safe

Having started down the road of search and discovery, I am now aware of simple and safe investing strategies that, had I known of them in my early twenties, I probably could have retired by my early thirties.  And all this without the need for executive-level jobs. Of course, that is a very ambitious expectation, but I don’t know any other kind.

Anyway, if you are interested, start seeking the knowledge and be safe! Always do what is best for you.  In my case, the more I learned the safer my choices became.  You do not need to get risky when it comes to your money, but becoming conscious of mine has changed my life.

*As always, this article is not meant to give financial advice.  Past results are not a guarantee of future returns.  Everyone must do their own due diligence and determine the money managing and wealth building strategies that work best for them.  Information provided here is meant to provoke thoughts, not provide recommendations.  This is not personal legal or investment advice and may not be appropriate for all readers.  If personal advice is needed, readers should seek the services of a qualified legal, investment or tax professional.

Enjoy what you found here today?

Click here to support this effort!

Thank you for your support!

Spread the love

Support this site!