Tag Archives: Millionaire

Six Millionaires Trait that you can Adopt

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six millionaire trait that you can adoptTo become a millionaire we should adopt what traits the millionaires have. Adopting or copying millionaires’ trait is not a crime anyway so you can adopt them if you want. Why reinvent the wheel if you can copy it and become a millionaire too? What is good for is that there are many millionaires that you can copy to become successful.

Reading from article in the Internet I summarized the traits that our millionaires have and I come up with six traits that we can adopt from millionaires and again these are free and legal so try to grasp them yourself.

1.0   Independent Thinking – If you want to become millionaire then you should have this trait because it is the basic trait. No other people will lead your success but you. You must be the manager or the captain of your own dream. Do not depend on other people because they will not do it for you but to themselves. You can listen to other people’s ideas but at the end of the day you have to decide by yourself.  Believe in your dreams and study them and be passionate.

I have a friend who is now rich and he told me that before he could start doing his business, he heard lots of criticism and discouragement from his friends and family members who did not believe that he can do it. Right now he plan to expand his restaurant and he advice me to pursue my dream because people will always be negative and discourage you for many reasons like envy, lack of trust that you can do it and fear that you will fail.

2.0   Vision – Millionaires are also visionaries and they think that what they have in their mind will come true.  They have creative vision that will make them rich. Who would think that Bill Gates will become very rich? He was a drop-out. But he had a vision and that is the company that he has right now, Windows Corporation. Vision is very true because I never met anyone who has no vision and now very rich. Take an example, to build a bridge you should have a vision what it will look like. You have to make plan and blueprint in order to execute and make the bridge.

3.0   Skills – To become a millionaire you need to have skills. I myself think that what if I am not good in the prospect business that I want to venture. Well you can partner to people who are good in that area and polish your skills. Let some members of your family join you and ask their expertise. You can also enroll in short courses that will enhance your knowledge and skills. It is not too late to go back to school and improve your skills. Concentrate on field that you have the skills and knowledge. It is also very important to do business in the field that you like most.

4.0   Passion – I have mentioned this one in the first trait of millionaire that we can adopt and it is true. Warren Buffet will not be as billionaire today if he did believe in passion. I believed that if you have no passion in what you are doing then you will stop if there is any small problem along the way that you will encounter. If you are passionate enough of what you are doing then you will not get discourage easily. You will strive because you believe on what you are doing and that is passion. Do what you enjoy most and if you are not sure what makes you passionate then start small until the time that you find the real thing that you like and improve it. Most millionaires according to survey started being passionate at 45 and the average millionaire is at 54.

5.0   Investment – Will this is where you become rich but it is also risky and you need to do lot of sacrifice at first and even live below your comfort living. Are you willing to start by investing money and time? You could even start a business if you want big return in the long run. Start investing now or better start a business that will last a lifetime. Employment is somewhat secure but you will not be rich because your salary is small and before you will realize you are trap in a rat race.

6.0   Salesmanship – most rich people are good in sales. They don’t accept no for an answer when it comes in selling their products. They know how to pursue people to buy their ideas. It is what we call social skills. According to survey social skills is very important than IQ that is why Donald Trump even if he went bankrupt before, he was able to rise and become billionaire again.

It is not their millions that sets them apart from ordinary people but how they get those millions. To become a millionaire is not a stroll in the park or an overnight goal but a long and very challenging path. Discipline, vision and passion and other traits needed to reach their goal. I hope you will learn from this article “Six millionaire Trait that you Can Adopt” to achieve your lifetime dream


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How to Become a Millionaire?

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how to become a millionaire?Everybody wants to be a millionaire. How about you? Do you want to become a millionaire too? Many people wanted to become rich but only few were able to reach their dream. To become rich is not only through dream and by saying it but you have to work hard and smart. It is not a stroll in the park. If you want to ask me about on how to become rich then I would first suggest to get rid of bad debts. I am not rich by the way but eager to be one.

Anyway to make it clear I would enumerate the steps here on how to become a millionaire

and hopefully you can grasp some of them if not all.

1.0 Pay yourself first. Whether you are employed or not you have to set aside for yourself. Save at least 10% of your gross income every month and invest it. As you start building your business still save the 10% of your monthly income from your employment income to business and other passive income. You will be surprised how fast your money will file in a short span of time.

2.0 Invest on debts. This is a little bit confusing but I tell you there are two kind of debts. The bad debts and the good debts. Avoid bad debts as much as possible but look for good debts. Good debts are debts that will earn you money that will add to your income. Loan for capital in your new business is a good debt because you will earn money when your business is operational. Housing Loan is also good if you earn money out of your new house like if you will opt it for rental. Living in your new house if you are renting is also a good idea because you do not need to throw money in renting a house but paying the mortgage for the new house that you own. Renting a house will only make the owner richer. Bad Debts are car loan for luxury car, buying cellphone, loan for vacation, buying other things that will not generate incomes but bills like electric bills, telephone bills and etc. Avoid early gratification or reward, look for long term gratification.

3.0 Save money and have simple life. You will have a hard time paying yourself if you don’t save money so be frugal but not cheap or stingy. You know what I mean when I say cheap. Budgeting is the right way to save money, like eating in your kitchen and packing your launch when you are working. Eating in fancy restaurant is costly and the foods are not nutritious. If you don’t eat nutritious foods then you will have a health problem that will cost you money for medicine and doctor’s consultation.

4.0 Learn to earn income aside from your salary if you are employed. There is a saying that most of the employed personnel are not going to become filthy rich because they have regular salary minus the high tax from the government. Don’t you know that you can cheat taxes if you have your own business or company? Yest this is true that is why rich people are becoming richer. If you are employed, you can’t cheat the government because before you get your monthly salary, it is already deducted. Find a niche that you are interested and start your own business. If you are doing it because it is your hobby then it will not be a burden and you will not be exhausted. If you have many sources of income then you will not be afraid to quit your present job.

5.0 Invest your money. To make your money work for you, you need to invest it. If you will know how to invest, you will be happy to know that you do not need to work hard. In investing your money will grow even if you don’t work hard. Isn’t nice to know that your money is working for you?

6.0 Start early as possible and find a mentor. This is the right time to start. Do not wait for tomorrow because it will not come. Make a pledge to yourself to start today. Find a mentor that can help you inspire to become successful. Associate with successful people and you will be successful too.  Avoid negative people because they will always say negative things for a reason like envy.

7.0 Set a goal. To become a millionaire, you need a foundation and blueprint too. Do you have monthly plan? Yearly plan? How about five years plan or 10 years plan? You can change them anyway when the course of your business will change but you need to have them. Make your business fail-proof by establishing a trademark or name. Make the base very strong so that when storm comes your business will not fail.


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Do You Have What It Takes To Be Rich?

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Do you have what it takes to be rich? Many people are asking and wondering if it is really possible to be rich. We saw one ,we saw two or three people who started from rags and now they are very rich but most of us would say that they are just lucky or it is their fate to become rich. I could not argue with this mind setting that we have especially the poor people because they are most of the time think the negative aspect in life. That is why they are poor.

I observed also that not all well educated people are rich. There are also drop outs and not educated people who became rich. So what are the traits that will make us rich? I am sure right now that it is not taught in school because as I said that there are well-educated are not rich and there are drop outs and not educated who are rich?

Here are some characteristics that rich people used to rich their pinnacles and these are base on my observation including people that I knew that are now rich:

1.0 Frugal- I have a friend who is worth million today but still very frugal in spending money. I was shocked when he invited for dinner because we ate in food court plus he order a budget meals for us. But to tell you the truth the foods are delicious and enough for us. He told me that he is on diet so he do not want to eat too much foods because he is afraid to become obese and have a hyper-tension. He is right because adding bills from doctors will affect his income. Another friend of mine is a very poor woman from the mountain who is now rich too, she still eat the foods that she ate when she was poor staying in the mountain. She did not change her lifestyle even if she can afford to.

2.0 Know how to handle money- Cash Flow is very important because if you do not know how to manage money then you are in big trouble. You should know the in and out of money in order for you to succeed in your business. Basic accounting is very important and according to Forbes Magazine billionaires today are mostly the children of engineers, accountant and etc.

3.0 Thinker and planner- I also observed that they are planners and thinkers because like for example my friend share his ideas on how to improve his businesses and he has a five years plan and even ten years plan.

4.0 They know how to budget- They also concerned about budgeting even to their household daily expenses. They usually ate foods that are not expensive but nutritious. They used old car even if they can afford to buy luxury cars. Warren Buffet still eat pop corn when watching his favorite TV show.

5.0 Business-minded- They always grab the opportunities when they saw one. Most of them will create opportunities to expand their business. They are born leaders not followers and they are daring but used calculated schemes when they invest their money. In short they are risk-takers. Do you have what it takes to be rich or millionaire?

6.0 They understand what is good debts and bad debts- People may ask what are the good debts and bad debts? Good debts are debts that will earn you money like real estate, loan for business capital and so on. So if you loan because you want to open a boarding house or a restaurant then you are having a good debts. Just make it sure that you will succeed when you do your business. Bad debts are buying expensive cars, computers, cell phone, loan for vacations and other expenses using credit card that are not necessary. Just differentiate the like and want and you will know what I mean.

7.0 Hardworking and smart- There is a saying that you have to work smart to attain your dreams.

Do You have what it takes to be rich? If you do not have then follow what I said and you are on your way to become the next millionaire in your place. All of the people that I know who are now rich are businessmen and entrepreneurs.


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