How to be Millionaire in 2020, Rajni Sehgal [best novels to read for students .TXT] 📗

How to be Millionaire in 2020

 

 

 

 

 

 

 

 

 

How to be Millionaire in 2020

 

 

 

By Rajni Sehgal

 

 

Simple rules to become a millionaire in 2020 (Pages 1 – 2)

Introduction

Page 1

So, you want to be a millionaire this year 2020? Have you asked yourself WHY? What are the perks of life that you get to enjoy that others don’t?

Think of the possibilities and you will surely want to jump on the bandwagon of millionaires and get away from very mundane life. For starters, a mansion to live in with plenty of landscaped gardens without dreaded mortgages to worry about, a fleet of swank cars in the garage that are guaranteed head-turners on the road and a luxury vacation whenever you want. Have an army of butlers at your beck and call. Let your children enrol in the finest schools and provide an opportunity for your wife to own the Kohinoor. Life will be as easy as it can get.

This is just the tip of the iceberg though. Becoming a millionaire goes far beyond earning tons of money and focusing on the financial aspects only – investments, returns, and more. It all starts with a small germ of an idea in the mind that if nourished properly goes on to become a huge tree with roots running deep. You have to have perseverance and patience until the tree grows up and bears all the fruits of your toils.

So, what is important is your desire to become a millionaire and the belief that you can make it. This self-confidence and self-belief will make you go steadily towards your goal even if you stutter sometimes on the way. Being creative is the key to becoming a millionaire and is a critical path to reach your target.

 

 

 

 

 

 

 

 

 

 

 

 

 

Page 2

There are other attributes that you should develop which at first sight seems far removed from the world of finance. You must focus on staying fit and healthy as it will strengthen you not only physically but mentally too to face the challenges that come up. You do not have to train for the marathon but a few hours of working out will make your body and mind receptive to the daily rigors of hard work.

On the work front, be ready to take risks. If you stumble, don’t give up. Get up and learn from the mistakes. Most millionaires have started small in tiny establishments. They have been rock solid in their ventures, never cutting corners to make a fast buck simply because there is never an easy way to success and no get-rich-quick schemes in life.

Finally, try and associate with millionaires, not necessarily first-hand, but even by reading about their endeavours, their line of thinking and how they have climbed to their pinnacle of success. These are lessons that will help you to become a millionaire in 2020.

 

 

 

 

 

 

 

 

 

 

 

 

 

Chapter 1

Desire To Become A Millionaire

Page 3

The human desire for wealth is unparalleled, regardless of whether it is chasing financial independence, material comforts or simply having a pile stashed away in the bank. But the biggest misconception is that people with millions of dollars are “wealthy”. Take a poll of just three people and there will be different answers to “wealth”.

The point is that if you want to be a millionaire, you must think like a millionaire and have a deep-seated desire to be one. This is the mindset that people who have accumulated wealth have in-built in them. Only if you reach for the stars can you get there and you must have a passionate desire to do so.

An idea should move you so much that life will seem inadequate without it. As the great entrepreneur Richard Branson puts it, “Entrepreneurship is about turning what excites you into capital so that you can have more of it and move forward with it”.

Becoming a successful businessman and reaching millionaire status is not a cakewalk, less than 10% of Americans ever reach their goal. Those who do did not have things placed before them on a silver platter. They had a deep desire to be a millionaire; they dreamt about being a millionaire and had an obsession to be successful. Only if you can spark the flame of desire in you can you hope to reach your objective.

“The people who are crazy enough to think that they can change the world are the ones who do.” – Steve Jobs.

What then are some of the obsessions and desires that should rule your life if you want to become a millionaire?

 

 

 

 

 

Page 4

Making it big

Take small steps towards becoming a millionaire and your desire to achieve your target will push you there. What you need is an entrepreneurial mindset. Take heart from Warren Buffet who sold packets of gum to his neighbours at the age of six and Richard Branson who bred and sold parakeets as pets at 11. It was their desire to pile up wealth that made them reach the pot of gold at the end of the rainbow later in life.

Being an overachiever

Your desire for wealth is critical to becoming one and you can never accept B grade in anything. Your obsession should push you on to being the best in whatever you do. Have the mindset to shoot big – not to make $1 million but $10 million. Have the craze to be an overachiever.

Having a sense of urgency

Your compulsive desire will always give you a sense of urgency. There is no “perfect” time for wannabe millionaires to start off on their journey – it is always NOW! Do not sit back in deep introspection and think a thousand times before taking the first step, it is a sure way to squash your dreams. Have the mindset to start towards your target right away.

Thinking about goals

People who have a strong desire to become a millionaire will continually spend time formulating their long term goals and objectives. Peter Voogd, founder of The Game Changers Academy and a millionaire before 26 says, "You don't make a million by accident. If it's not a goal, you sure as hell won't hit it." 

 

 

 

 

 

 

Page 5

Once you have the desire to become a millionaire, you will be prepared for the long haul. Success never is a continuous flow, it comes in fits and starts, sometimes a step forward and a couple back. The obsession to strike it rich will push you forward even when you feel you are treading quicksand. Eventually, small baby steps will turn to giant leaps and make you a millionaire.

The fallout of a strong desire is that you will never give up, regardless of the hurdles you face towards moving to your goals. Rather, these failures will act as a catalyst to break boundaries and create a flourishing enterprise. Obsessive self-made millionaires turn defeat into a spark that ignites their determination to succeed. They never do things halfway and put in an extra effort when faced with a physical and mental challenge.

Your yearning to be wealthy will help you make sacrifices in the short term to reach your objectives but remember to have fun and enjoy the fruits of your labour along the way.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chapter 2

Always Upgrade Your Skills and Knowledge

Page 6

Are you one of the ambitious individuals located all over the world trying to achieve millionaire status? There are countless success stories epitomizing financial success, even of self-made millionaires of a very young age. The paths followed by each of them have been different and a lot is heard about their get-rich methodologies. But what is rarely heard is the specific skills and knowledge that they possess and how they worked hard to sharpen these attributes to become millionaires in their own right.

So what are the skills and knowledge that you should have and the updates that will make you stand out in the financial world?

Communication

By far on top of the list is the skill to communicate seamlessly with others. It is the first step in establishing a network and bridge with other people as you make your millions. The first impression that you create when you interact with people will be the last impression that they will have of you.

On your way to becoming a millionaire, you will be communicating with lots of investors, customers, employees, and more in your network. You have to influence them and create an impact if you are to be successful. Making others feel important will fetch you revenue from customers and more investment from investors.

So what happens if you lack this skill, being an introvert? You have to go out of your way to develop this trait. Billionaire Warren Buffet has this to say. “One easy way to become worth 50 percent more than you are now at least is to hone your communication skills — both written and verbal.”

 

 

 

 

 

 

Page 7

The great investor is narrating his personal experience. When young, he was so terrified of public speaking that he enrolled in a Dale Carnegie to overcome it. Today, it is not the educational degrees that are framed on his office wall but the certificate from Dale Carnegie.

You too have to hone your communication skills if you hope to make it big. Learn from what the great investor thought to be critical in his life.

Maintaining Focus

Maintaining focus is the skill of being steadfast in choosing activities that will serve your ultimate goal of being a millionaire over other little reward. Ask yourself whether you are focused on your journey. It is difficult because the world is full of distractions.

But you have to train yourself to do it. Every night, break down what you did throughout the day into specific moments. How much have you done that have contributed to your goal? How much time have you wasted? Do this analysis at least once a week to stay focused.

Larry Flynt, the American publisher worth an estimated $500 million once famously said, “Along with a strong belief in your inner voice, you also need laser-like focus combined with unwavering determination”.

A combination of these factors will take you places and help you make considered decisions precisely and accurately.

Reading

This is the killer trait that you MUST have and if not, you should develop it mandatorily. Reading is knowledge and without being aware of the world around you, even dreams will not take off. As different from listening to an audio or watching a video, in reading the brain processes information differently and correlates what you have recently understood with reality and

 

 

 

 

Page 8

internal memories. You absorb knowledge better and can improve yourself faster. Reading is self-improvement. You will also learn about the financial metrics required to be a millionaire, about the tools that will help you evaluate what will give you high returns in the long run. Most critically, reading will give you the power of knowledge, boost your self-confidence, and know the path followed by other millionaires to mint money.

Richard Branson once said, “One thing is certain in business. You and everyone around you will make mistakes.”

By being an avid reader and being knowledgeable, you will be able to quickly understand your mistakes and take corrective action. And that is the hallmark of a millionaire.

Influence Others

Self-made millionaire – the term is a misnomer. “Self-made” does not mean not taking anybody’s help to become rich. Actually, you will always require external assistance to achieve your goal. A millionaire who has made his wealth in real estate must have taken the assistance of agents, appraisers, mortgage lenders, and many others. Hence, you should have the skill to influence others and bring them around to your line of thinking.

An essential component of influencing others and persuading them to contribute their services is being a good communicator. Improve and upgrade this skill by reading on the subject. Dale Carnegie’s book “How to Win Friends and Influence People” is