How to become a Millionaire

Ask the people who have already done it.

If you type "How to become a Millionaire" in google you are going to get leots of scammers trying to sell you a system. However, most of these people are amateurs and will not help you in your goal. A much better approach is to listen to people who are already millionaires. Read good advice and you too can become a millionaire. It doesn't take a university qualification. It doesn't take 'genius' whatever that is and it doesn't take a 'secret' formula.

Find out what it takes to become a millionaire...

Anyone Can Do It: My Story by Duncan Bannatyne can really teach you how to open your eyes to possibilities. This self made millionaire is a stunning example of how to make it big.

The Real Deal: My Story from Brick Lane to "Dragons' Den"  is the autobiography of James Caan who, like Duncan Bannatyne, appears on the Dragon's Den TV programme. Caan's rags to riches story is inspirational and you get a great sense of the enterpraneurial mind set.

Robert T. Kiyosaki wrote a great book called Rich Dad, Poor Dad which is all about the mind set of a successful business enterpeneur.

How to Be a Billionaire, by Martin Fridson is all about upping the ante. He isn't happy to settle for millions when there are billions of dollars waiting for those who have the urge to go and get them.

Other rich people who you might want to read about, because they found ways to make millions include Warren Buffet, Phillip Green, Richard Branson and of course Bill Gates, the world's richest man.

Here is a neat tip I picked up when reading about Warren Buffett, the legendary stock market investor. The idea is that you as an investor should act as if you are only allowed to make 20 investments during your entire lifetime. If this was the case then you would think long and hard about each investment and see it as a long-term (lifetime) investment. The message is 'gamble, but do it carefully'. Don't blow your money on returns that 'might perform OK for a while'. Only invest if you believe the company in question is likely to perform 'exceedingly well for many years to come'. In order to say with any degree of confidence what you think is going to happen, you need to read and learn about the company you want to invest in. Forget 'hot tips' and 'gut instinct'.

A particularly enlightening little book I found was The Unauthorized Guide to Doing Business the Bill Gates Way: 10 Secrets of the World's Richest Business Leader.

Now, I could tell you how well I am doing, but since I am not a millionaire (yet) I suggest you ignore me and listen to the big boys.

 

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