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There is a whole cottage industry running to show you how to do just that; books, articles, webinars, seminars.  You name it there is someone trying to sell you their plan to help make you a millionaire.

Most of it is bullshit, there is no magic elixir that will get you there.  Most millionaires I know got there either by being in the right place at the right time and taking a risk or did it the old-fashioned way: hard work.

You can’t always be standing in the right place at the right time.  If you are, you need the resources to take the risk.  If you are doing it the old-fashioned way of working towards it, to get there you need to do three simple things.  Things that everyone should be doing no matter what is going on.

  • Earn extra money through a side business or hustle if you prefer.
  • Spend less than what you earn. Cut out unnecessary expenses where and when you can.
  • Invest your money, either in a side business or in the stock market.

If you earned extra money and threw it into the S&P for the last three years you would have earned 42.87% on your investment.

If you could cut $100 out of your monthly expenses and saved it, you would have $1,200 to invest each year.

Most of the millionaires I know live generally quite lives, not flashy, and they watch what they spend their money on.  So, these must be good habits to have in place if wealth is a goal.

 

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