5 ways to become a millionaire
February 18, 2009 by Vauna Beauvais
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Once you have decided that you want to become wealthy, you will need to know how you can do that.
Here are the five main ways that fortunes are made in America
(if you know of a source of similar statistics relating to the UK, please post a comment or email me)
- Having a self-owned businesses (74%)
Entrepreneurship of all kinds
Businesses built from the ground up.
- A professional at the top of his or her game (15%)
Doctors, lawyers, architects, structural engineers, scientists, etc,
Become very, very, good at what you do
The top five percent in any field earn 10-20 times more than the average in that field
- Being a senior business executive (10%)
Join a large corporation and work with them for a lot of years.
Rise to positions of seniority
Take stock options, profit sharing and bonus options.
- Sales people and consultants (5%)
It is not necessary to have a degree to be skilled in sales
You don’t have to start your own business
Become very, very good at selling products or services and invest wisely
- Sports, music and other celebrities, inventors, authors, lottery winners, beneficiaries of inheritance (1%)
Only 1%?
‘Fraid so.
The chances are slimmer, but you do get to live your dream
What to do about it
It seems that there is a direct relationship between excellent performance and the kind of high income that leads to financial independence.
So, if you want to become a millionaire - decide what you really enjoy doing (and have a talent or aptitude for) and then throw your whole being into doing it extremely well.
If you are really serious about becoming a millionaire, you must take steps towards it by taking the actions that matter.
- What is it that you are doing right now that is leading you to becoming wealthy?
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- What changes do you need to make in your life to enable your path towards millionairedom more direct?
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- see also Goal Setting and more about money skills
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