How to be a Millionaire
Did you know that there are 42.2 million millionaires in the world, with 2.3 million of those joining the ranks in just the last 12 months. Of those millions of millionaires, 41% (17.3 million) are in the United States – so 7% of the US adult population are actually millionaires. Not too shabby really.
After the US we see China with 8%, Japan 7%, United Kingdom 6%, Germany and France with 5%. If you find yourself a millionaire, congratulations – you are in the top 0.6% of wealth for the world’s population.
So what do all these millionaires do? What do they value? How do they stay so rich? We took a look at the details of the world’s millionaires and this is what we found:
Millionaires are Self-made
The first thing to note is that the millionaires of the world worked hard to get where they are, mostly. Approximately 86% of millionaires of self-made, taking on average 32 years to hit that $1 million mark and working on average 50 hours or more each week. They also seem to highly value education, with 84% of millionaires having a college degree. The good news is that the majority of the world’s millionaires actually grew up middle class or poor – only 22% came from money. They also tend to come from disciplined households where academic achievement and financial discipline were emphasized.
These millionaires also save regularly, rating a good savings plan 82/100. They also make sure that they have multiple streams of income making sure that if one idea fails, they still have the others to fall back on.
Healthy Habits of Millionaires
Millionaires also have some very healthy daily habits which seem to help them stay on top of things. Most of the world’s millionaires read for at least 30 minutes a day, and not just any books, but books focussed on self-education such as leadership, self-help, biographies, how-tos, and current events. They also make sure to fit in exercise at least 4 days a week, often starting their day with some kind of movement that makes them feel good. They are also early risers, making sure to maximize the hours in their day and therefor achieve more.
Millionaires also make time to network with other successful people. They understand that we become who we surround ourselves with and so make time to connect with other positive, successful people who don’t follow the crowd.
When it comes to money habits, the wealthier people out there tend to work within a written budget and avoid bad debt. They also work closely with financial advisors, and whilst enjoying their hard earned money, they are not frivolous or reckless.
Millionaires set daily goals which they prioritize in order to keep focussed and build momentum. Setting achievable daily goals is the fastest way to stay motivated and keep building those millions – which brings us to the final habit, the practice of patience. As previously mentioned, millionaires don’t happen overnight and many of them spend years investing wisely on a modest salary whilst making sure to live below their means. Their biggest success is being able to focus on the bigger picture instead of instant gratification.
So there you have it, a bit of wisdom on how to be a millionaire. If you’d like to become an overnight millionaire, enter the lotto online now!
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