Contents

Table of Contents

1. Why Be a Millionaire?

What would you do if you had a million dollars sitting in your bank account? Imagine total financial freedom. Would you retire? Would you travel? Would you build that dream home that has always been in the back of your mind? This is what money can do. It can assist you in completing your dreams!

2. Your Mindset
The thoughts you hold are crucial to your success. In fact, proper thoughts and expectations make the difference between success and failure. Most people profess they want to achieve financial success, but take no real steps in achieving this goal. Think about some of your friends. They may state that they want to accumulate a million dollars but have never written out a plan on how to achieve it.

3. Fear of Failure
The fear of failure is inherent in most of us. We all have fears that our performance will not measure up to the standards of others or ourselves. Overcoming this fear has lead to many great successes. Why is that? The fear of failure is very debilitating. Many people will not start their own businesses or leave a place of employment where they are unhappy because of this fear. Others stay in a bad personal relationship because of this fear.

4. Need to Impress
Humans are very social animals. We are very different from other types of life forms on this planet. We, as people, have found it crucial to get along with the immediate group of people we are living with (even through many teenagers try to prove me wrong on this point). Human evolution has selected this trait because the better a group cooperates the better their chances for survival will be.

5. Fear of Poverty
The bulk of the current generation in America knows not what true poverty is.

6. Greed
Needless to say, greed can be the most powerful personality trait in people and their accumulation of wealth. We as a society have harbored a negative attitude towards individuals that exhibit this quality outright. Yet some of the richest people in the world are driven by the necessity of wealth accumulation for the sake of wanting more and more.

7. Love of Family
The power of love and the power of a family can be a tremendous combination. This is the energy force that motivates most people to get out of bed in the morning and to head off into the workplace. It also can turn a moderate breadwinner into a super achiever.

8. What Traits Should You Emulate?
Financially successful people share common traits. First off, they are good accumulators. Whether you are an individual, company, city, state, or country you will find the thrifty ones prospering while the spenders who chronically mismanage their resources struggle. A great deal of financial success is tied to being a good accumulator of money, assets, and resources.

9. Planning Your Financial Future
Far too many of us talk about achieving the status of being a millionaire but very few actually sit down and map out a plan on how to achieve it! Let’s not make this any harder than it has to be. You can achieve the status of becoming a millionaire through various ways such as owning a business and selling it off, building a business or profession which pays you a high salary, developing a trademark, patent, or other source of royalty income, by investing into real estate, etc. However, the surest way is to simply start placing money aside on a monthly or annual basis.

10. Establishing Purpose
Keep your doubts at bay and you will have far less conflict in your life. Conflict often keeps the best and the brightest of us from succeeding. Conflict creates indecision that takes away or suppresses our energy. Worse off, it takes us down a different life path, one, which prevents us from achieving all that we can be and diminishes much of what we can offer.

11. Pay Down Your Debts
One of my first jobs was working for a carpet shop. I worked in the back room adding the special fringe or binding that covers the edges of area rugs enhancing their beauty and durability. The owner Sketer sure had a profitable niche business going. All of the area carpet stores would send him their business. Isn’t it amazing how many ways there are to make money?

12. Develop the Accumulation Habit
Speaking of your financial mindset, the environment you grew up in will influence you both in obvious and hidden ways. Many people are brought up with the ingrained belief that they have to express their wealth in an overt fashion to family, friends and neighbors. This may exhibit itself in a generous character who perhaps buys everybody greeting cards or knickknacks or to the more serious offender who simply relishes too much material goods on those they are close to.

13. Always Direct Your Savings Towards Prudent Invesments
There are basically two major reasons people fail financially. They fail to accumulate enough funds during their working years to build a comfortable nest egg or they risk their funds during the accumulation stage or upon retirement.

14. Monitor and Upgrade Your Skills
Your career is not the only area you should be constantly upgrading your knowledge and skill levels. Your own personal finances will require this as well. Does it make sense to work so hard to make money, yet spend so little time and skill in managing your money?

15. Make Mine Tax Deferred
Like a helpless acorn, your wealth nestegg requires care and nurturing before the fragile oak kernel can grow to a towering pillar of strength. For most will find, wealth starts small and grows from there. Much wealth for the average American starts in real assets that grow tax deferred or in qualified plans such as IRAs and profit sharing plans. What about normal investments held outside of these plans like mutual funds and bank accounts?

16. Remember the Best Things in Life are Free
Far too many of us are chasing goals and dreams that take us away from the really great stuff in life. How can you put a price on an evening stroll through a neighborhood and soaking up all the beauty life has to offer? How about the time you can spend with friends or family engaged in great conversation?