Ryan J. Taylor asked: What makes a millionaire a millionaire? Obviously the amount of money and assets a person has determines if they are millionaire or not, but what is the actual makeup of a millionaire? If you were to take away all of their wealth and all of their assets, what would you have left?
Henry Ford thought if you took everything away from him, he would just earn it all back. That’s because, like many millionaires, they have something deep within their bones that makes them characteristically different then the average person.
A self-made millionaire is generally someone who has had some tremendous experiences of building a lifetime of wealth. Most likely, they actually experienced a poor lifestyle at an early age and developed a mindset that would not allow them to be anything but wealthy. As a result, they become successful business leaders, creative entrepreneurs, and opportunists. They are willing to take some financial risk, but only when it is well calculated, and they understand that becoming a millionaire does not happen overnight.
So how can you develop these habits of millionaires? The first thing to do is to develop a saving attitude. If you spend more than you make, you will never get ahead financially. And when you get deep in debt, it take that many more years to dig yourself out of debt just to get back to 0 and start working towards accumulating wealth.
Once you have developed a saving attitude, you need to start thinking like a long term investor. Fortunes are built around programs teaching you how to get rich in the stock market, but 80 percent of professional fund managers cannot even beat the stock market. It’s a loser’s game. The millionaire knows that the average returns the stock market provides is a safe and guaranteed way to accumulate wealth. By simply investing in a plain S&P index fund over the long term, you keep your risk low and take advantage of compound interest, which can double your money in as little as 7 years.
Kansieo.com
William M asked: I am 18 years old and I want to know what is the best way to become a millionaire using the stock market? please help me by recommending the best investing instrument to become a millionaire on the stock market. Thanks.
Some pop singers make millions
JAY asked: Hello, Im 19 years old and wanted to learn a little more about the stock market and how it works.
In the stock market right now and i see all these things that dont really understand, hoping that someone could tell me what all this means?
$ Last Trade – 27.87
Volume – 45,216,569
$ Change – 0.12
% Change – 0.43
Knowing all this can someone tell me what all this means and tell me if i did own this stock how much money i would have made?
Thanks in advance.
[are you looking for an iphone4 or something like it ?]
Martin Thomas asked: In the immortal words of Emmerson, “all I need is one idea” Overnight wealth has a certain stigma that “sensible” people seem to be resistant to. The idea of the get rich quick variety is an object of ridicule and derision in alot of peoples eyes. However, with a little focused action and the right knowledge, rapid wealth is not only possible for you, but inevitable for the determined.
The first thing I want to do is qualify the above by saying “quick” means several years not overnight. Sure, you could write a hit song or contemporary book but these have alot to do with chance. People with determination generally don’t like chance because control is a solid aspect of wealth generation.
Anyone can have an idea. By that I mean virtually any idea can become workable unless its just totally “out there” What matters is that you act. But more then that, before you act, you must know how to make it work. Thats really what most people with a good idea lack.
So knowledge again is where the central workability comes from. So let me give you some knowledge right now. The knowledge of the wealthy. There are many ways to get rich very rapidly but I offer you an example below and some insights about what the wealthy know and have known for centuries.
Arbitrage is a concept that you should learn more about. Its a word that circulates in financial circles and is therefore obscured to the average person as just some odd french word that the stock market people use.
The truth is that arbitrage is the single biggest idea about wealth that you should understand. Doing an arbitrage deal is literally this……..If I offered you 70 cents for your crisp clean dollar note would you take the deal? What if you had $100,000 and I had $75,000 and I said look, let me deposit this money into your account in exchange for your money? Straight swap. How would you feel about that?
Well I imagine you’d say no. I wouldn’t blame you, its hardly a fair deal. Arbitraguers do this all day long. But this is the difference.
We deal in value and perceptions not numerical currency like cash. Or we deal wholesale and sell retail. There are hundreds of ways that I can swap my 70 cents for somebody elses dollar.
The wealthy have practiced arbitrage for as long as currency existed because arbitrage is the secret road to wealth. A secret that will never be openly talked about because it is so tightly held. My little contribution here will do nothing to change that balance, but consider yourself fortunate to learn about this and maybe it will spurr you on to a new life.
Here is a real world example of arbitrage that I practiced many years ago, when I was starting out broke, dejected, but hopeful.
It wasnt long ago but seems like centuries ago. Its pre-history now. One form of arbitrage is the concept of economies of scale. This arbitrage strategy relies on a single fact. An irrefutable reality about fiscal life on the planet earth. Here it is. When you buy something (of anything) in bulk, you are entitled to and more often then not get a very large discount on your purchase. When this bulk amount is “split up” and re-sold in traditional more popular chunks, your investment will return a decent profit.
So here is a get rich quick idea. One you can use right now to establish an income stream to replace your daily job. It can be reproduced and systemized to manufacture a very healthy income indeed.
When you look at newspaper and local journal price lists, you will notice they are very yielding to this concept of economies of scale. Simply a small ad may cost $140 for example. But buy a full page and you only pay say $900. Why? because its less work for the publication. Well my idea was to start a weekly page called “Martins Market” I approached 200 business owners face to face and told them they can get a small ad in my one page spread “Martins Market” for just $90 a full $50 cheaper then if they bought their ad from the paper directly. Do you think this offer interested a good percentage of the business owners I approached? You bet! Not only that, but they got a further discount if they paid up 6 months in advance.
I could fit 40 ads of that size onto my page. Being filled up, I made $3600 every week for an outlay of $900 for the page. I added value with nice graphics and the page got quite well recieved as my clients reported good returns from their ads. This was reproduced 20 times around the country, with 2 sales staff for every “Martins Market” I was netting close to $20,000 per week for a fairly lengthy period.
You will need a few dollars to try this, but its inevitable that if you do your research properly you can make this work and get exactly the same results.
My very best to you
Martin Thomas CEO opportunity investor.com
This article may be cut and pasted any time by anybody as long as it is not edited and the link below remains intact. copyright
Are you using Four Square , it is the next big thing
Chris asked: Factors and questions:
- If a person makes $36,000 a year.
- Percentage (%) of income to invest a month.
- Chances of being a millionaire in A,B, and C years.
- Chances of being a multi-millionaire in A, B, and C years.
- How much time to invest on learning skills, methods, and etc.
* I have no knowledge of the stock market.
[are you looking for an iphone4 or something like it ?]
Richard Blaine asked: Imagine a check for $1 million dollars just falls into your lap one day. While it may be tempting to spend it, you know you should invest it. As a long time investor, hopefully I can provide some sound recommendations on how to invest $1 million dollars. The problem with having this much money is protecting it because a significant sum such as this needs to be invested carefully and inflation can erode this capital quickly in a few years. Finding an adequate return can really be a challenge.
You might be considering CD’s, government bonds, mutual funds, the stock market and even various business projects. Since every investor’s level of risk is different I am going to break down these options by levels of increasing risk.
1) Government bonds. Very little return, but virtually no risk.
2) CD’s – This is relatively safe option with rate of return depending on the institution. There are two major risks associated with this type of investment. First, you can tie your money for a long time without access to it. Second, interest earned can be negated by inflation.
3)Mutual Funds – This investment can be very risky and very profitable, or relatively safe with an average return. There are also different yield funds which buy stocks of different companies according to their risk/return objectives.
4) Stock Market – Diversification is key, not only in an overall portfolio, but also in the stocks you choose. It never hurts to revisit your risk/return preferences
5) Business Projects – These can be very lucrative investments, but they also carry high risk. Know what the expected ROI (Return On Investment) is before investing.
There are many options on how to invest $1 million dollars. Whether investing $1,000,000 or $10,000 keeping your portfolio well diversified is the key to success.
Caffeinated Content – Members-Only Content for WordPress
