Many of us dream of becoming a millionaire one day. When you think of that moment, what comes to mind?
Maybe it’s driving that sweet car or living in a mansion. Maybe you think you will never accumulate that amount of money because it takes a lot of luck to do so. Or, perhaps, you think of stashing your money in the safest place possible.
If any of these ring true, you might not be able to achieve this goal of becoming a millionaire. In fact, here are some traits that many millionaires possess:
They Live Below Their Means
Many millionaires live way below their means. Instead of living in huge homes and driving fancy cars, they do the complete opposite. Most of them became wealthy by being frugal so they continue to follow these habits throughout their lives. A great book that details this in more depth is The Millionaire Next Door. It is one of my favorite reads and changed the way I thought about wealth.
They Are In Control Of Their Lives
Most of us have the freedom to change our situation if we want to bad enough. If you don’t feel like you make enough, you can learn new skills and get a better paying job. We are currently in an election season. Some feel that a certain candidate will make their lives better. That is simply not the case. YOU and YOU alone are responsible for what you accomplish in life. I do realize that some are in better situations than others but, there are hundreds of rags-to-riches stories out there. Take control of your own life and don’t wait for someone else to make it better.
They Take Good Risks, Embrace Change and Work Hard
Making a change can be scary. If it were easy, everyone would have a great marriage, be healthy and have money. However, these things require hard work, risk and sometimes change. Instead of letting fear paralyze them, millionaires embrace these things.
I know many times we focus on only all the bad things that could happen. Whenever Tracy and I have made a drastic change and we are fearful, we ask ourselves the following:
What is the best thing that could happen? What is the worst thing that could happen? What is the most likely thing to happen?
The answers to these questions have helped us conquer the fears of moving to another country, leaving a profession after 14 years and publishing a book.
Becoming a millionaire is not easy. In fact, I may never make it there. But, applying the principles listed above, gives me a better chance at accomplishing this goal.