Four Step Plan to Becoming a Millionaire

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By veejay23

Quit the Rat Race and Break Free

Who doesn't want to get rich? Certainly not you...If you clicked and opened this article, don't click away if you want to quit the rat race and break free. And today you're going to discover four steps that will help make you a millionaire...

Step 1. Face the Facts.

Make a decision today that will change your life forever: Decide to get rich. Not in future. Not ten years from now. No. Get rich now. Right now. You see if you keep doing what you've been doing all along you're never going to be financially free - you might not even have enough to retire one day. And who wants that? But if you commit to following these four steps - religiously - you will achieve substantial wealth in 7 to 15 years.

Step 2. Plan to be Wealthy.

You can't wish yourself wealthy - no matter what your manager tells you. You have to plan for it - one detail at a time. Planning to be wealthy means you're going going to have to:

  • Get to work 1 hour earlier every morning: The early bird catches the worm and hundreds of wealthy people attribute their wealth the fact that they were early-risers.
  • Set wealth-building goals for the next twelve months: This means deciding where you want to be twelve months from now and then breaking those goals down into monthly, weekly and DAILY tasks. That's right - you need to spend at least 15 minutes a day growing your wealth (even if it means just expanding your investment knowledge)

Step 3. Develop Wealthy Habits

The rich are different from ordinary people - and not just in terms of their wealth. They have certain habits that make them richer with every day that passes. Studies now reveal that the majority of wealthy people:

  • Don't buy into consumer crazes: Wealthy people recognize the difference between quality and prestige. The first offers value for money. The second is a waste of money. Wealthy people know that every time they spend money they actually get poorer. So while they're willing to pay for quality they don't see the point of buying lavish label brands.
  • Don't have a budget: Surprised? You should be. 80% of people NEVER follow a budget and chances are - neither will you. The solution? Compile a list of your assets (but include your primary residence and car) and your liabilities. Next calculate your net wealth. Now do this once a month and promise yourself this: "Next month I will be wealthier than this month". That's all you need to do - no big promises, no false starts. Short. Sweet. Simple. But followed - it's a system that will make wealthier than you can imagine.

Step 4. Increase Your Income - Radically.

Forget 3% or 4% raises - you need to boost your income by 25% - 150% (and that's just for starters). There three ways in which you can do this:

  • Ask for a raise: If your boss isn't willing to you need to focus on becoming an expert in area of your job that increase profit. You need to develop a profit-developing skill that will make valuable to your boss and show that you are increasing the company's bottom line. If you do this, it won't take long for your salary to match your increasing area of expertise.
  • Ask for profit share: Come up with a unique concept for your company, e.g. a new product. Fine tune it and present it to your boss and ask for a share of the profits to launch it. But first - put your money where your money is and agree to help subsidize its launch. Not only will your boss be impressed, but you'll also be astounded at how much you could potentially earn.
  • Start your own business: Lastly, you can look to develop a secondary income- by starting your own business slowly but surely. Start now by thinking like a tycoon

Comments

glassvisage profile image

glassvisage Level 6 Commenter 20 months ago

Wow. That's probably the best few steps to becoming a millionaire that I've seen :) Great summary. I think you hit the nail on the head - you have to have high aspirations, but also be realistic. Thanks!

veejay23 profile image

veejay23 Hub Author 20 months ago

Thank you glassvisage for your comment, we'll all blessed with some talents within us and because of external negative influences, we tend to under-utilize them or die without discovering oneself.

God Bless

The Millionaire Fastlane Blog 12 months ago

Another thing that I would personally add to the list is the act of creating assets that work for you. Anything can be an asset - but you have to put it to work 'out there'.

For example, a writer who only writes in his journal is nothing - but a writer who puts his asset out in form of articles and blog posts can become very successful because every single word that the writer puts out will work for him for as long as it stays out there.

Much like every dollar that you lend out earns you a tiny bit of interest over time.

veejay23 profile image

veejay23 Hub Author 12 months ago

Absolutely correct. Anything that is not publicized to be an answer to other peoples problem is not adding any value to the human kind. I agree with the above comment.

"We are blessed to bless others"

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