How to Become a Millionaire – 16 Critical Do’s and Don’t

It's no longer “Who Wants to Be a Millionaire” but how to become a millionaire. You don't have to be a contestant on a game show, win the lottery, or receive a windfall from a relative.

Just follow the 16 Do's and Don't in this article, and you'll be on the road to becoming a millionaire.

Four Money Mindsets Used by Millionaire While it might be easy to think that millionaires are just lucky, they think about how their money can work for them, not just how they can work for money. 

1. Use Time to Your Advantage Most people look for concrete paths to becoming a millionaire. But the essential ingredient to becoming a millionaire is intangible. It’s time. Most millionaires utilize the compounding nature of time, where growth builds on itself over time.

2. Create Financial Goals Millionaires develop written financial plans that serve as roadmaps to reach their destinations. These plans allow them to make financial decisions based on their goals. 

3. Millionaires Increase Earning The fact is that most millionaires have full-time jobs. And they might work it for a full 40 years. You could ask for a raise if routine work is how you make money.

4. Millionaires Also Decrease Their Spending Many financial writers point out that the stereotypical “millionaire lifestyle” is antithetical to becoming a millionaire. Why? We think of millionaires as having a big house, a fancy car, and the nicest clothes.

Five Ways to Invest Like a Millionaire Did you know that millionaires invest 44% of their assets in stocks? And that 2/3 of millionaires lean on experts by consulting with advisors? Let's take a look at the most common path to Millionaire Road.

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