The Criteria to Become a Millionaire

How to become a millionaire? What should I do in order to become a millionaire? How much money should I make to become a millionaire? What is the best way to become a millionaire? These are all the questions we always encounter online. It is everybody’s dream to become a millionaire. Once in a while I often stumble upon post with topic relate to discussion about becoming a millionaire. And the method, plan, strategy, path to become a millionaire are always different. Check out the blog post title “What It Takes to Become a Millionaire” from Yahoo Finance. Although the blog post looks interesting with all the numbers, figures and statistics, it just simply explains what it takes to become a millionaire right now. Or shall I say the numbers we required to fit in current financial equation in order to become a millionaire.

There is one part of the blog post which I am totally agreed with and I think it is well said.

In most cases, the road to financial security in retirement comes with steady savings, strategic investing, and probably a later retirement date than you may have envisioned at the start of your career. Keep these three rules in mind: First, you need to live within your means. Next, you have to commit to saving a certain amount every month and stick to that goal. Then, you have to make sure your investments are in a diversified portfolio — a mix of stocks, bonds, and alternative investments (commodities and real estate) and rebalance that mix to attain your goals for growth.

In reality such stability and steady cases rarely occurs. There will always some unexpected incident happen and I’m sure a lot of us have those experiences and understand the situation pretty well. Especially after going through the financial and economic crisis lately, nothing can be absolute secure. The best way to become a millionaire is to keep on improving, changing, adapting, trying and updating yourself and your plans. There is no retirement on the path to become a millionaire. It is not the money which you have that makes you a millionaire. It is the ability or skill you obtain which can get you to the millionaire circle matters. Million dollars can be easily lost overnight. If you can earn back the money next day, you can still maintain in the millionaire circle.

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One Response to “The Criteria to Become a Millionaire”

  1. Juliann says:

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