Save is The Path Towards Millionaire even without Money Making Opportunities

Who wants to be a millionaire? Lately there seems to be a lot of articles regarding how to become a millionaire at Yahoo Finance. I seem to have been posting a lot of blog posts about millionaire topic from Yahoo Finance. Check out the blog post title “Wealth is What You Save, Not What You Spend” as it explains how we can become millionaire even without taking on lots of money making opportunities. There are lots of good points and quotes in this blog post which I think very well written. Let me just list them out before I discuss more about it.

Don’t overspend and use debt wisely.

We all may not be millionaires but there are plenty of financial and life-planning secrets we can learn from the well-heeled.

Wealth is what you accumulate, not what you spend

It is seldom luck or inheritance or advanced degrees or even intelligence that enables people to amass fortunes

Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.

Income alone does not make one rich. It helps, of course, to build wealth, but the financially independent look to their salaries as a means to an end, which is that pile of cash.

Don’t look to debt to fund your lifestyle.

the journey to riches was far more fun than the reaching the goal.

I kind of like the last sentence as I’m currently enjoying my journey of pursuing money making opportunities too. The secret to millionaire is simple. You just have to save more than you spend. The simplest way often can be very difficult for some people. That is why we don’t see many millionaires around. In some cases people tend to find the easiest way to earn million dollars in the shortest time. Although there really exist such a way, but the risk will be great and chances of success is slim. It is true that we need to bear certain level of risk in order to achieve our goal, but we need to make sure the risk is bearable and controllable. As long as you’re able to reach millionaire status right before your retirement age, it’s still considered success.

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