How to Invest: Becoming a Millionaire



Sign up for the tutorial series "The FAST Approach" at: http://stockinvestingsimplified.com Imagine being able to pursue your wildest dreams knowing that you have the financial resources of a millionaire in order to do so. What may surprise you the most about attaining millionaire status is that you too can become financially free. In Stanley and Danko's revealing book "The Millionaire Next Door", they share 7 key characteristics of self-made millionaires. The authors make it perfectly clear how you can attain millionaire status by changing how you think about wealth creation. By changing your attitude about saving and investing, you can change your destiny. Here is a summary of their key findings: 1. All self-made millionaires live below their means. They choose to build wealth rather than succumb to the instant gratification that comes with being a typical North American consumer. 2. They allocate both their time and monetary resources efficiently in order to build sustainable wealth. 3. They believe that financial independence is more important than displaying their social status with the latest Armani suit, Rolex watch or BMW car. 4. The vast majority of self-made millionaires did not receive any economic "out patient care" from their parents. In other words, they did not receive any significant financial gifts to get them where they are. 5. The children of self-made millionaires are economically self-sufficient. This aligns well with the above point. 6. Self-made millionaires are proficient in targeting investment opportunities. They take an active role in their financial and investment decisions. 7. They have chosen the right occupation that allows them the opportunity to better amass wealth. Many self-made millionaires are successful business entrepreneurs with a college education. So if the overwhelming majority of self-made millionaires of America are not high paid surgeons, lawyers or corporate executives then who are they? The simple answer - your neighbor down the street with the middle class lifestyle. Stanley and Danko point out in their findings that to become wealthy requires focusing primarily on three factors, namely: 1. Discipline - staying with a simple wealth accumulation plan. 2. Self-sacrifice - placing more importance on realizing one's dreams as opposed to paying for one's high-priced lifestyle and immediate desires. 3. Hard work - realizing that wealth building is an active process requiring ongoing effort. The big question to ask yourself is: "Am I willing to re-orient my lifestyle today and make the necessary sacrifices to become wealthy?" What would it take for you to say YES to realizing your dreams? Join us today by investing in your education at http://stockinvestingsimplified.com. Disclaimer: Any information shared on Stock Investing Simplified does not constitute financial advice. Stock Investing Simplified is not a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities readers or customers should buy or sell for themselves. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser.

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    Duration: 3m 22s

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