Julie Grace wrote: What do you think it takes to have a Millionare Mindset?
Some say that to become a millionare it takes doing something that works and is profitable over and over again until it multiplies into millions. Some say that millionares overcame at least one financial reversal in their lifetime.
What kind of mindset does it take? What are your thoughts?
:yh_clap
You should check out "The Millionaire Next Door" book. Very insightful. Most are hard working people who usually own regular joe-blow businesses. They live in 300,000'ish dollar homes. Drive domestic cars and trucks. Don't flash their wealth.
Most millionaires accumulate it over many many years. Fewer of them make it all at once.
The Millionare Mindset
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Pearl Harbor
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Erinna1112
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- Joined: Tue Jan 04, 2005 1:00 pm
The Millionare Mindset
Pearl Harbor is correct - the Millionare Next Door is a great read. Most of the millionares interviewed in the book were first-generation wealthy - they made their money, they didn't inherit it.
I am on my way...at 37, I have a net worth well into six figures. I don't use a credit card, I pay cash for cars, I don't finance anything - I pay cash for what I want. If I don't have the cash for it, I can't afford it.
Millionares didn't get that way by over-spending. They get that way by living below their means and saving money when they have it. It's not a matter of a huge inheritance or winning the lottery. These things don't happen to very many people.
I am on my way...at 37, I have a net worth well into six figures. I don't use a credit card, I pay cash for cars, I don't finance anything - I pay cash for what I want. If I don't have the cash for it, I can't afford it.
Millionares didn't get that way by over-spending. They get that way by living below their means and saving money when they have it. It's not a matter of a huge inheritance or winning the lottery. These things don't happen to very many people.
Do not meddle in the affairs of dragons, for you are crunchy and taste good with ketchup.
I swear by my life - and my love of it - that I will never live for the sake of another man, nor ask another man to live for mine. ~Ayn Rand
If you're not outraged, you're not paying attention.
A*M*E*N!
I swear by my life - and my love of it - that I will never live for the sake of another man, nor ask another man to live for mine. ~Ayn Rand
If you're not outraged, you're not paying attention.
A*M*E*N!
The Millionare Mindset
We are one of those millionaire next door families you describe, but a lot of the $$$ is tied up in the businesses we own.
The US dollar dropping hit us hard, because we charge our customers in USD and do not fluctuate the cost when the dollar drops or we may lose their business. We we took a big hit.
Our success was not an over night thing, my husband always says it's easier to get a dollar from a million people, than a million dollars from one.
We belong to an exclusive golf/country club that has some OLD Money... inherited money and we are talking serious money, I have been to some of their homes for parties and such... 10,000 square foot gated mansions - I can't imagine living like that, just because I could. We are paupers compared to these people. ~ but yiou know what? we get many comments from them on how well they respect people that work their way up the hard way.
We have a nice home, nice cars and don't want for anything ~ but we work hard and the risk is ours.. working for yourself not for someone else has it's challenges.
The US dollar dropping hit us hard, because we charge our customers in USD and do not fluctuate the cost when the dollar drops or we may lose their business. We we took a big hit.
Our success was not an over night thing, my husband always says it's easier to get a dollar from a million people, than a million dollars from one.
We belong to an exclusive golf/country club that has some OLD Money... inherited money and we are talking serious money, I have been to some of their homes for parties and such... 10,000 square foot gated mansions - I can't imagine living like that, just because I could. We are paupers compared to these people. ~ but yiou know what? we get many comments from them on how well they respect people that work their way up the hard way.
We have a nice home, nice cars and don't want for anything ~ but we work hard and the risk is ours.. working for yourself not for someone else has it's challenges.
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LottomagicZ4941
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- Joined: Wed Oct 06, 2004 12:00 pm
The Millionare Mindset
One old German once told me. Okay he told me perhaps about 5 times. If you took the money from the top half of the population and gave it to the bottom half in a few years the top half would have it again.
Probably an exaguaration as some do go from one to the other.
He was puzzled how my Opa was able to buy so many farms just comming to this country in 1946. But after some research (learning how to barrow from a bank) he eventually ended up owning several farms himself.
Lotto
http://www.flalottomagic.net/cgi-local/ ... elcome-344
MagicZ4941A
Probably an exaguaration as some do go from one to the other.
He was puzzled how my Opa was able to buy so many farms just comming to this country in 1946. But after some research (learning how to barrow from a bank) he eventually ended up owning several farms himself.
Lotto
http://www.flalottomagic.net/cgi-local/ ... elcome-344
MagicZ4941A
The Millionare Mindset
I think the millionaire mindset is all about personal development. If someone was to win the lottery, chances are they will have blown it in a few years and be back in the same boat, or worse. If you take away a true millionaire's wealth, they will have it all back in a few years. Much of it is about discipline - doing the little things that you don't like in order to do the big things that you do like. Most people will just neglect doing things that they don't enjoy, even if the benefits are tremendous.
The more you learn the more you earn. As humans we need to continually develop ourselves. Education doesn't end when you leave school. We should learn something new and of value every single day. Many people are all too keen to go to work in a dull job, get home and sit with their feet up in front of the tv drinking beer.
"In order for things to change we must change" Jim Rohn
For information on a genuine opportunity to earn £300 - £3000+ per month take a look at www.ownyourlife.eu.com. The opportunity is currently available in the UK, ROI, and Holland. The rest of Europe is to follow shortly.
The more you learn the more you earn. As humans we need to continually develop ourselves. Education doesn't end when you leave school. We should learn something new and of value every single day. Many people are all too keen to go to work in a dull job, get home and sit with their feet up in front of the tv drinking beer.
"In order for things to change we must change" Jim Rohn
For information on a genuine opportunity to earn £300 - £3000+ per month take a look at www.ownyourlife.eu.com. The opportunity is currently available in the UK, ROI, and Holland. The rest of Europe is to follow shortly.