This article was written by Grant Cardone (*) international sales expert, founder of three companies and bestseller of the New York Times.
First, understand that you no longer just want to be a millionaire. You want to be a billionaire.
While you think a million dollars will give you financial security, this is not the case. Given the volatility in the economy, governments and financial markets around the world, it is no longer safe to assume that a million dollars will give you and your family real security. In fact, in a study done by Fidelity Investment to the millionaires in the last year, it was discovered that 42% of them do not consider themselves rich and that they need 7.5 million dollars of investable assets to begin to feel rich.
This is not an instructive of "how to achieve" the accumulation of wealth based on a life of saving and making pennies. This is about generating a multimillion-dollar wealth and enjoying it during the creation process. To begin, consider the following seven secrets of billionaires.
1. Decide to become a multi-millionaire
First you must decide that you want to be a self-made millionaire . I went from zero - no money, just ideas and a lot of hard work - to produce a net worth that probably can not be destroyed as long as I live. The first step was to decide and set a goal. Every day for many years I wrote the following: "I am worth more than 100,000,000 dollars!"
2. Get rid of poor thoughts
There is no shortage of money on planet Earth, only a shortage of people who think correctly about it. To become a millionaire out of nothing, you must stop thinking like someone poor. I know it because I used to do it. I was raised by a single mother who did everything possible to have three children in school and make ends meet.
Many of the lessons he gave me fostered in me a sense of lack and fear: "Eat all your food; There are people who die of hunger, "" Do not waste anything, "" Money does not grow on trees. "True wealth and abundance do not come from thinking like that.
3. Treat it as a duty
Self-made billionaires not only have economic motivations but a need for the market to validate their contributions. Although I always wanted riches, what motivated me the most was my need to contribute in a way according to my potential.
Billionaires do not change their goals when things get tough. Instead, they raise their own expectations as they see the difference they can make to their families, companies, community and charities.
4. Surround yourself with billionaires
I have been studying wealthy people since I was 10 years old. I read their stories and saw what they had to live. They are the mentors and teachers who inspire me. You can not learn how to make money from someone who does not have much. Do you know who says that money does not make happiness?
The people who do not have it. And who says that all rich people are greedy? The people who are not rich. The wealthy do not talk like that. You need to know what they do to create wealth and follow their example: What do they read? How do they invest? What motivates them? How do they stay motivated and enthusiastic?
5. Work like a millionaire
Rich people treat time differently. They buy it while poor people sell it. They know that time is more valuable than money in itself, so they hire people to do those things that are not good or where their time would not have a productive use, such as household activities.
But do not fool yourself by thinking that those who achieved success did not work hard to get there. Successful people in the financial arena are consumed by their hunt for success to the point that they feel they are winning instead of working.
6. Change the focus of spending to invest
The rich do not spend money; invest. They know that the tax laws of the United States favor investment rather than spending. You buy a house and you have no way out. Instead, the rich buy an apartment building that produces a cash flow, which is valued and offers profits year after year. You buy cars for comfort and style.
The rich buy cars for his company, which are deductible since they are used to produce income.
7. Create multiple income streams
Really rich people never depend on a single stream of income, but create a number of profit streams. My first business had been generating a seven-figure income per year when I started investing money in multi-family real estate. Once my real estate and consulting business got mixed up, I started a third business developing software to help retailers improve their customer experience.
Finally, it may surprise you to know that rich people want you to be rich too. It is a mystery to them because others are not. They know they are not special and that wealth is available to anyone who is focused and persistent. The rich want others to be, for two reasons: first, so you can buy their products and buy their services; and second, because they want to hang out with other rich people.