May 20th is National Be A Millionaire Day. It's a perfect day to sit back and wonder what your life would be like if you were a millionaire. We've all sat back and wondered what it would be like to live life on your own terms and still earn a comfortable living. Today is the day to sit back and figure out what we would do if we could achieve that.
Truthfully, just about anyone can become a millionaire; all it takes is hard work and some determination. Millionaires don't put all of their eggs into one basket; they diversify and spread things out so that if one source dries up, they always have another one that is going.
Interestingly, not all millionaires are born wealthy; in fact, many of them lived in abject poverty either in childhood or as an adult. Yet, these millionaires were able to pull themselves together and earn enough money to become a millionaire; how did they do it?
Hard work and determination are the short answer. It doesn't really take a lot of money to appear wealthy. All it takes is the determination to pay bills on time, stay out of debt, and take the time to clean and press your clothes. Look presentable and present yourself with confidence.
Those are the easy steps. However, following through with them isn't nearly as easy. Paying bills on time is dependent upon earning enough money to pay the bills on time. What? You didn't know that millionaires work? Yes, millionaires work, and most of them work more than one job or own more than one business.
Warren Buffet was born in the early 1930s amid the great depression. At the tender age of 5, Warren started his own door-to-door company. With determination and grit, the young entrepreneur worked his way up from poverty to where he is at today. He leads a simple yet fulfilled life, one of the few millionaires to still reside in his original home.
Dave Ramsey is another fine example of a millionaire. Dave lost everything and went bankrupt, only to make a huge comeback. Today, Dave earns a comfortable living earning approximately 15 million annually. He taught his children the same ethics, and his daughter Rachael has followed well in his footsteps.
Now that you know you don't have to be born into money to be a millionaire, you can sketch out your plan and decide how you're going to become a millionaire. What steps will you take? What business or businesses will you start? How will you spend your millions? Will you give some money to charity?
Some Steps To Take
- Start a savings account today. You can open a savings account with as little as $5.
- Contribute to your workplace retirement fund.
- Take advantage of your workplace retirement fund by saving directly from your check.
- Open a 401k or an IRA account.
- Pay off your credit cards.
- Continue to pay all of your bills on time every month.
- Set aside some cash for an emergency fund.
- Invest some of your money.
- Make sure to donate to charity.
Millionaires have all sorts of secrets that they have used to become wealthy. Take some time today and read their biography's to learn more tips and tricks on saving money and earning more money. Don't forget to read up on investing your money as well. We've included some links to millionaires' biographies in the sources below.
How would you spend your money if you were a millionaire? Please share with us in the comments.