How to Become a Millionaire
How to Become a Millionaire in 2019. How to get Rich.
“How to become a millionaire” is written by Barron Hall. Revised and Updated July 31, 2019.
Do you want to know how to become a millionaire? We are going to share with you 7 simple steps to becoming a Millionaire in 2019.
People often shoot us short questions like this: How to get rich? How to become rich? How to get rich fast? Ways to become a millionaire? Ways to become rich? How to get rich from nothing? How to get money? How to make money? How to become wealthy? These questions are all basically the same. We were asked these questions so often that we decided to do some basic wealth mentoring on “How to become a millionaire” for free. The answers to these questions are contained in the brief teaching that follows.
A Millionaire, even a USA $ Millionaire, is not a wealthy person. Even one lawsuit can wipe you out. A simple car accident can wreck you. Forbes no longer lists Millionaires, only Billionaires. We recommend that you set your sights higher than just being a Millionaire. Being a Multi-Millionaire with net assets of $10 million or more is a much better starting goal. Our mentors normally teach people how to become USA Dollar Billionaires. The process is quite intense and requires much learning and effort from the potential Billionaire.
Becoming a Millionaire is a far easier thing to do, in fact we believe that anyone can become a Millionaire with very little hard work and effort, and it should not take longer than 3 years from the get go. In this short article we are going to coach you how to meet this simple goal, namely: “I want to be a Millionaire, and I need to know how to become a millionaire”. Later, you can elevate your dreams to the status of Multi-Millionaire or even Billionaire by following our other teachings or by entering into our Mentorship program.
So here for your enjoyment are the 7 simple steps to becoming a Millionaire: Follow them all in order to have the maximum possible chance of succeeding at creating your first million.
How to become a millionaire and get rich in 2019.
Just follow this 7 step process, skipping nothing. Estimated time frame to millionaire status is 1 to 3 years.
1. Set your Goals.
Set yourself a Goal with an amount and a date attached. For example, “I will have wealth of $4 million within 3 years from today.” Double your goal to allow for Taxation. So far this is very easy.
2. Pick your Strategic Wealth Vehicle.
You must decide how you are going to make money. We call this your Strategic Wealth Vehicle. Your Strategic Wealth Vehicle is simply the way that you have chosen to create your money and wealth.
Understand this: a job is not a Strategic Wealth Vehicle. A job is slavery. Jobs are for poor and average men. Here are some of the possible Strategic Wealth Vehicles: Inherited Wealth, Write Books, Build a Business, Buy and consolidate Businesses, Invest in Buy to Let Properties, Flipping Properties, Drop-shipping, Invest in the Stock Market, Trading in the Stock Market, Invest in Cryptocurrencies, Trade in Cryptocurrencies, Create a YouTube Channel, Commodity Investments like gold, oil, silver, coal, food, water.
We want to recommend to you that you choose Property Investment as your first Strategic Wealth Vehicle. We believe that it is a great choice and the best first stepping stone to becoming a millionaire.
3. Create your Strategic Vision.
Having set your goals and knowing how you are going to create your wealth, you must now sit back and create a Strategic Vision regarding just how your Strategic Wealth Vehicle will look in 3 years. We call this your Strategic Vision. As an example, let us assume that you took our advice and that you chose Buy to Let Properties as your Strategic Wealth Vehicle. Your Strategic Vision could be something like this: Within 3 years I want to own 50 three-bedroom apartments that I let out for rental income.
4. Have a Millionaire Mindset.
You need to stop thinking as normal people do. Normal people believe that you need to go to school and study hard, then get a degree, then get a job, work hard, buy a house and move into it, save, invest the savings, and then retire on your pension. This is a poor man’s mindset. You need to learn how to stop working for money. You only have so many hours in the day. This limits your income if you are selling your hours working for money. The only way that this mindset yields greater income is to increase the hours worked or to increase the hourly rate, or both. This poor man’s mindset is extremely limiting.
We want you to adopt a new mindset, a Millionaire Mindset, that says that you no longer work for money, but your money now works for you. We want you to believe that it is OK to make Money Fast. We want you to require that other people are going to pay for your assets. You must now value your time more than you value money. Find a good wealth mentor and he will train your mind to adopt a Millionaire Mindset, and then a Billionaire Mindset.
5. Follow Millionaire Money Making Tactics.
A Tactic is an action or strategy carefully planned to achieve a specific end. In this case, you need actions and strategies carefully planned to achieve millionaire status.
Here are the top tactics that we highly recommend to achieve millionaire status:
Gain New Skills and Master these Skills, especially the art of Selling. Rent everything you need, do not live in a house that you own. If you already own a house move to modest accommodation and rent out the home. Living in a home that you own comes much later in your wealth growth path. Build up a solid credit record. Pay all your bills on time, not before and not after the due date but on the due date. Do not own anything. Rent your living space. Use Public transport. Eat at home. Cut out every unnecessary cost. Trim all of the fat off of your lifestyle. Reduce the costs of essential items. No more BAD Debt. Bad debt is debt used to buy things that do not produce an income for you, things like TVs and vehicles. Bad debts increase your cash outflows. Good debts increase your cash inflows. Pay off old bad debts asap. Do not buy stuff. Period. Essentials only. Rent. Food. Water. Pay Your Tax First. Pay Yourself Second, and this should be 40% of your Gross Income. This is Your Money. Do your best to survive on what is left of your income after tax and paying yourself. You need to save “Your Money” and use this to fund your chosen Strategic Wealth Vehicle. Never ever spend your money, it is there to fund your Strategic Wealth Vehicle. It is the gas for this vehicle, the petrol for this car. Fund your Passive Income Assets out of your money. Minimize the time that Your Money is kept as cash and savings. Use Your Money to purchase Passive Income Assets as soon as you have saved enough to put down a deposit. Cash Money and Savings become dust over time. Cash is not king, cash is a poor man’s castle, made of dust. Think of Your Money as the savings that you are going to use to purchase a Golden Goose that lays golden eggs. Your Money (in the form of Your Golden Geese) needs to start laying eggs by itself. As an example, you could accumulate $20 000 of Your Money. Then purchase an apartment with a bond and rent it out. The rental incomes are the golden eggs that your golden goose (your apartment) is now laying. Your money is now working for you. Smart. Rinse and repeat until you have many many such properties in your portfolio.
Your First Passive Income Assets should be Property. From Rental Properties you score from Cash Inflow, being rental
6. Practice Millionaire Habits.
It is really important for you to remember that while it is motivation that gets you going, it is your habits that keep you going. Do not rely on motivation alone, you will fail. Also, do not rely on normal peoples habits, you need Millionaire Habits. You really need a good wealth mentor to teach you the Millionaire Habits. Here are some Millionaire Habits. Delete people who steal your dreams and sap your energy. Have few friends but have great friends, friends that are ahead of you on the curve. Until you find these friends, rather have no friends. Get up early, always at the exact same time, and have a well structured morning routine. Eat for nourishment and exercise that body. Dump things that steal your time, like Netflix and mindless TV watching. Walk away from Facebook. Stop living with a phone in front of your face. Work hard at resolving your relationship problems. No relationships are better than bad relationships. As your income increases start to build yourself a team and delegate work, freeing up your time.
Really, actually, get stuff done. Be focused on your Goals, your Strategic Vision, your chosen Wealth Creation Vehicle and become unstoppable. Be RELENTLESS in everything you do. (relentlessness trumps perfection, and great human qualities trump great qualifications).
7. Pass the Millionaire Milestones.
A Millionaire Milestone is a significant event in your wealth creation life. A Millionaire Milestone marks the start of a new chapter on your road to being a Millionaire. Be encouraged as you pass each Millionaire Milestone since this means that you are getting closer to your destination. Milestone 1: Your Income from your Job covers your Living Costs. Milestone 2: You have read, understood and memorized the contents of this article. Milestone 3: Your Money is stashed way in a special account and is growing monthly by the addition of the required 40% of monthly income. Milestone 4: You have found a suitable property to purchase and have put down the deposit and have bought it. Milestone 5: Your income from your chosen Strategic Wealth Vehicles (in this case your apartments) is greater than your monthly living costs. Milestone 6: Your Passive Income is now double your Living Costs and you resign your job and you stop working for money. You now concentrate on building your Wealth Creation Vehicle. Milestone 7: Your wealth now exceeds a Million Dollars and you are a Millionaire. Congratulations. You are now a millionaire. That was easy. We believe that you will soon realize that there is much more wealth to be built than a mere million dollars.
As soon as you are ready for true wealth, there remains just one thing to be done. This is absolutely crucial. Find an Excellent Wealth Mentor, appoint him, learn from him and feel the surge of growth that can only come from this critical move on your part. This one move on your part is the one thing that will have the greatest impact on your future wealth creation. Nothing else comes close. This is the best single investment that you can ever make in your life. No other investment will ever come close to yielding the same ROI as appointing an excellent wealth mentor.
We are not going to wish you good luck. Luck has nothing to do with it. However, we do wish you well!
If you seek the greatest possible wealth in the least possible time then you must have a great wealth mentor of your own.
Bill Campbell mentored Steve Jobs of Apple, Jeff Bezos of Amazon, Larry Page Co-Founder of Google, Sergey Brin Co-Founder of Google and Dick Costolo of Twitter. Steve Jobs of Apple mentored Mark Zuckerberg of Facebook. Bill Gates of Microsoft was mentored by Warren Buffet the great investor. Socrates mentored Plato, and in turn Plato mentored Aristotle, who in turn mentored Alexander the Great, who conquered the known world.
Who is going to mentor you?
Keen to learn more?
Read Barron Hall’s Article on the Top 10 Most Crucial Success Factors for High Performance Individuals seeking Success and Wealth.