The Millionaire Formula
In this Show
I wanted to be Millionaire when I was 10 years old. That desire to have money has never not been there since I was introduced to a quarter…and what I could do with it…
Start with 1000- earn 8% per year
30 years – 1707
20 years -1678
15 years — 2861
10 years — 5417
1) Have the Million dollar Target
2) Commit to doing whatever it takes to get the 1m
3) Increase Income
What jobs will pay you enough. Don’t do just what you want to do do what will earn you that money.
4) Reduce Spending on stupid stuff…. Discipline, Friends, Ethics
5) Look at my money every week.
The value of looking at Savings is only so you see how you must increase earnings…. Savings is a secondary part of money not the primary….
Spend your talent like a millionaire trying to go broke and Save your money like your life depends on it.
5 levels of income in this country
1) The poverty level set at $23,050 for a family of four.
2) Lower middle class workers have incomes that fall between $32,500 and $60,000.
3) Upper middle class workers often have income above $100,000, which comprises the top third of American incomes.
4) The next level of income is the 5% of Americans earning more than $150,000 annually.
5) At the top of the economic ladder is the 1% who can earn more than $250,000.
Self employed make up less than 20% of all workers and 2/3rd of all millionaires
Median income of millionaires is 131k
80% are first generation affluent
Highest paying jobs —
Become a Millionaire
1) Make the decision
2) Create the plan
3) Spend your talent like you are trying to go broke
4) Do everything possible to create more money
5) Spend more money only to create more money
6) Get rid of money once you have enough set aside in assets that become more valuable and can not be destroyed.
7) Save you money like your life depends on it.
8) Surround yourself with like minded people