Do you feel like you started late? Have you ever said’ “If only I started saving when I was younger.” It’s never too late to become a millionaire
“Even if you’re in your thirties, forties, fifties, even your sixties and beyond. You’ve still got an opportunity to put your life on the right track financially. Stop worrying about the future,’ says David Bach in his book “Start Late, Finish Rich.
“The truth is that the first time I earned a check for $1,000,000 was when I was 51 years old,” revealed Jack Canfield
Colonel Sanders founder of KFC achieved success in his sixties.
Many of the richest people in the world started their careers fresh out of school. But for some the millionaire status only come much later in life.
Develop a Millionaire Mindset
The only thing that’s keeping you from getting what you want is the story you keep telling yourself. – Tony Robbins
Wealthy people spend much more time thinking about their finances. The average adult spends 2-3 hours each month studying and thinking about their money. Usually at bill paying time. The average self-made millionaire, by contrast, spends 20-30 hours per month. Thinking, studying and planning his finances. The very act of focusing on your money, will improve the decisions you make with regard to it. People who invest more time planning their finances make better decisions. They get better results, and achieve financial independence.
Have a Vision
What will it mean for you to become a millionaire? Knowing your why will keep you focused. Is it security? Is it freedom? Power? Prestige? The ability to travel anywhere you want in the world? The ability to make a difference in the lives of others? Have the money to invest? Is it the ownership of a house, two houses, or a vacation home?
Whatever that experience is for you, make sure that you write it down. Get very clear what’s the why behind being a millionaire.
For me, becoming a millionaire isn’t about the big house and the big car, although they are nice to have. But the real purpose for me is about having the freedom to pursue my visions and to live my life purposefully.
All the thing that I want has to do had to do with the vision of changing the world. I want to inspire and empower people to have better money management and live their highest vision.
Make sure you get really clear about what is your purpose behind becoming a millionaire. Because that’s going to drive it more than the actual million rands.
It’s the feeling that you want to achieve and the impact that you want to have that is much more important.
I suggest that you create a vision board of what you want. The pictures that would represent the lifestyle and experiences you expect to have when you’re a millionaire. Put it up where you will see it every day.
Be sure to include images of the vacations, the things you want to own. Whatever it might be that you think having a million rand lifestyle would give you.
It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually.
Let’s take the idea of making your first million rands and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.
Your goal for the first year can be having R10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.
You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.
If this is still not enough to make the money you need to save R10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend R50 on your lunch every day when you could make your own for a fraction of the cost?
If you are to become a millionaire, you need to start accumulating money.
Upgrade your skills and knowledge.
Read at least 30 minutes a day. Listen to relevant podcasts while you commute to work. And seek out mentors. Consume knowledge like air and put your pursuit of learning above all else.
When I decided to sort out my finances, I started reading books on money. I took online course, attended seminars and started following experts in the field. Every morning before I start my day I read personal development books. In the evenings instead of watching TV, I spend my time on education.
If you want things to change, you need to take action to make the change happen.
Here is your millionaire mindset homework to complete after reading this blog. Create a cheque payable to yourself for the amount of money that you want to make in the next year. Sign and date the cheque, and place it somewhere where you’re going to see it every day.
Use it as a daily reminder of where you want to be, the work you want to do, and whatever is necessary to reach that goal. Put it on your mirror, your refrigerator, or under the glass on your desk at work. You could even photograph it and make it a screensaver on your computer.
Start taking action today towards achieving your goal of becoming a millionaire.