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Who Wants to be a Millionaire?

Who Wants to be a Millionaire?

Look around any personal finance blog and you'll see that becoming a millionaire is a prime discussion amongst the online communities. People want to know, is there more to it than being in the right place at the right time, or knowing the right people? Is it more than just chance? Kiplingers thinks so.

To be a millionaire takes more than luck. You have to have a plan of action and you have to execute that plan. Sure, you could buy a lot of lottery tickets and hope for the best, but odds are you won't win and now you've just wasted money that could have been saved for retirement or a college fund. Here's how you become a millionaire:

  • Make a realistic budget that will allow you to live within your means. If you're spending more money than you make, you're never going to be a millionaire. Sorry, but we've got to tell you the truth.
  • Don't be afraid to take a little risk. Nothing worth having comes without risk. Ask anyone with millions and they'll tell you they took a risk, be it in the stock market, real estate, or simply promoting a brand they created.
  • Learn from others. You're not the first to want to be a millionaire. Take some time to learn what worked well for others and what didn't. In other words, do your homework!

 

Keep it simple, do your homework, and make a plan. Stick to that and you'll find your millions in no time! [Kiplingers]

Posted: 5/13/08
futya4ness

Sounds great !! I'm giving it a go ! I certainly don't have anything to lose.(apart from being in the wrong headspace about money uptill now !)YIPEE :)

Joyls1114

Great Info! Plan, budget and don't be afraid to take a risk. Do what other millionaire do. That is exactly what I am doing, but you forgot to mention patience.