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Learn the Secrets of Self-made Millionaires

Author: Jack Rose

Book Series: Your Personal Finance Series

1. Would you like to be a Millionaire?

There are a number of different things that we might want to achieve in life. For some individuals, it's building a happy family life and applying most of their time to making sure that their family is comfortable and well cared for. For other people, it's a matter of trying to achieve fame, and there are a number of ways that can be accomplished as well. In this publication, we are going to talk about a worthwhile goal that is not only achievable; it is something that is being achieved on a regular basis by normal people who do extraordinary things. I'm talking about becoming a millionaire, and it is something that you can do as well.

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Love it or hate it, all of us need money and we need to use it in order to purchase the items that we need to be comfortable, or in some cases, even to be happy. If you are interested in becoming a millionaire, therefore, you need to really think like a millionaire, as well as act like a millionaire. That is what this book is designed to help you to do, to take a look behind the scenes at the way that millionaires think and the things that they do. By learning the secrets of how millionaires act, you can begin acting in the same way as well.

It will all start with a discussion of the benefits of having money. I'm sure that most of us are aware that having money is beneficial, but we may not understand the full scope of what having money can bring to the table. By taking an honest and open look at the benefits of having money, it can provide the motivation necessary to point you and push you in the right direction. It will be something that you will want to refer to from time to time, when the going gets tough.

The first thing that needs to be done if you want to become a millionaire is to change your view of money. Many of us tend to have a mindset that causes us to think about money as a way to take care of debt, and we may be constantly spending our money, which is not the best option that is available. Unless you change your view of money and look at it as a tool that can be used for your benefit, you will have difficulty becoming a millionaire. That is the first secret that is going to be revealed in this publication.

The second secret that we will discuss is setting goals; something that most people do the wrong way. When you set goals properly, you will not only be able to achieve your goals, you will even be able to exceed your goals. In this publication, we will take a look at the way that many millionaires set their goals, and it is different than the goals that you likely set. After all, most people tend to set goals in the form of resolutions that are started and forgotten within a month. Real goals that will help you to achieve millionaire status are long-term and are something that you will work hard to achieve once you set things in motion.

Another part of having the millionaire mindset is learning how to prioritize your life and your time. When you are able to set priorities, it can really make a difference in being able to achieve all that you want in life. We all have a limited amount of time, willpower and energy, but when you establish priorities and put things in perspective, it can go a long way in helping you to fulfill your dreams.

Have you ever heard of a singular mindset? It is something that almost all self-made millionaires have achieved, and it is something that you can apply in your life to make millions as well. As a matter of fact, it doesn't matter if you are trying to be a millionaire or if you're just trying to get something out of life. Having a singular mindset is one of the most important things that you can do to achieve it.

The majority of us have a budget and we may do our best to stick to the budget on an ongoing basis. When you take a look at your budget, however, is it something that is meant to get you from one month to the next and to ensure that all of your bills are paid, or is it something that is designed to make you millions of dollars? When you budget your money like a millionaire, you will really see a positive movement in where your money is going and how it is growing.

Time management is a very important aspect that we will cover in great detail in this publication. As we discussed, we all have a limited amount of time and unless you are using your limited amount of time in the right way, it is unlikely that you are going to achieve what needs to be accomplished. We will talk about the time management theories that are used by many millionaires, to help them to get more accomplished in a day than most of us can accomplish in a month.

Part of the mindset of many individuals who are struggling to make it from one paycheck to the next is that they look at money as something to spend. It doesn't matter if they are spending it on groceries, bills or even entertainment, it comes into their hand and goes right back out again. Millionaires look at money in a different way, however, and they don't look at money as something to be spent; they look at it as something to invest. You will enjoy how that information is covered in Chapter 9 and you can begin applying it in your life.

Have you ever heard of the expression, putting all of your eggs in one basket? According to that axiom, if you drop the basket or if it is stolen from you, you lose all of your eggs. In developing your millionaire mindset, you will want to consider having multiple income streams as a resource that would continue to provide you with money, even if one of your "baskets was broken". Millionaires do not put all of their eggs in one basket because if they do, they know that they will not be millionaires for long.

Most millionaires have a team of people that surround them. We will discuss how to surround yourself with the right type of people that would allow you to achieve your first million and to continue to grow that money indefinitely. In order for this to be achieved properly, you need to have the right people behind you and under you. In addition, you also need to have peers beside you that will assist you in making millions.

You may have heard that it is important to do what you love, but what if you love something that is not going to make you money? This is something that will be discussed in detail because of the importance of having a passion for what you do. In some instances, it is not a matter of doing something that you are passionate about; it's about developing a passion for what works well. That is one of the self-made millionaire secrets that many people tend to overlook.

Finally, we will take a close look at the ups and downs that are often associated with the millionaire lifestyle. It doesn't matter which millionaire you are speaking about, they are going to have problems in their life and they are also going to have success, much as many of us have ups and downs. As a self-made millionaire, it is important to roll with the punches and to celebrate any success that comes your way. We will offer a discussion on that subject, and it is something that will help you to continue moving forward in your quest to become a millionaire.

Living the millionaire lifestyle has many benefits and it is one that can be quite enjoyable. In the following chapter, we will take a closer look at the benefits available when you have money, and it is something that you will want to pay close attention to. In doing so, it will help you to achieve what needs to be done so that you can move forward and make your millions.

2. The Benefits of Having Money

Most of us would agree that there are some advantages to having money, and some of them are going to be quite obvious, even to those who do not have money to begin with. As you continue to accumulate wealth, however, there are some additional benefits that you would want to consider. In this chapter, we are going to talk about the benefits of having money, and in particular, the type of money that would make you a millionaire. It can be motivational to understand these benefits, and you can begin applying the principles of this publication to your life in order to enjoy these benefits for yourself.

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It is important to recognize that the benefits described in this chapter are not the same for everyone. In some instances, your particular circumstances may differ. You may not even experience some of these benefits, depending upon why you want to be a millionaire and what you plan on doing once you have the money available. For the most part, however, these are benefits that you will likely experience, and there may be additional benefits that come your way as well.

Peace of Mind - One of the difficulties that many people face when they don't have extra money is that they struggle with the possibility that the rug could be pulled out from underneath them at any time. When you have extra money, it provides you with a certain level of peace in knowing that you are covered if anything should happen to go wrong.

Relationships - Although having excess money is not the magic bullet that will make every relationship in your life perfect, it can go a long way to helping you to have a better relationship with those that are close to you. As an example, one of the most common reasons why married couples argue is because of money. That argument is likely to fade into the background once you have money available. In addition, when you have money to work on your relationships, they tend to grow.

Happiness - There is an old saying that money can't buy happiness, but that is usually said by somebody who doesn't have money, in order to make himself feel better about the situation. I'm not saying that money is everything and that it is going to provide you with endless bliss throughout your lifetime. But it can provide you with a degree of happiness that is not experienced when you are constantly struggling to get by from one day to the next.

Savings - As you will learn in this publication, the millionaire mindset does not have anything to do with spending excessive money. As a matter of fact, you will find that you have more savings as a result of the money that you have available, and quite possibly, you will spend less as a millionaire than you did when you were broke. The savings that you have can be a bit of a protection, however, and it can certainly enhance your quality of life if you look at it appropriately.

Health - Although having excessive money is not necessarily going to guarantee you good health, it can go a long way in pointing you in the right direction. You will have access to better food, better resources and the medical treatment that is necessary. If you struggle to get by from day to day, you are likely forgoing some of those benefits. In addition, you tend to have less stress when you have some money in savings, and that can go a long way in helping you to lead a healthy life as well.

Money - Another old saying is that money begets money, and you will quickly learn the truthfulness of that statement. When you have money and learn how to use it properly, it will be a means of earning additional money, rather than simply spending it and watching it go away permanently. When you have money available, it gives you the opportunity to invest in yourself and in your future.

These are just a few of the different benefits that you may experience when you achieve your millionaire status. In order to enjoy these benefits, however, you need to change your mindset and your actions. We will begin to discuss some of the secrets of self-made millionaires in the following chapters. Then you can apply those factors in your life in order to achieve what you want to achieve.

3. Changing Your View of Money

One of the factors that must be considered if you want to develop a millionaire mindset is to change your view of money. In fact, the way that self-made millionaires view money is one of the secrets that can really help to push you in the right direction with your finances. Unfortunately, most people tend to have the wrong view of money and this can really be problematic in their lives. By simply adjusting to this single secret of self-made millionaires, you can make positive movements in your finances and continue to grow your finances on an ongoing basis.

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Of course, not every individual that is a millionaire is going to have the same exact principles and the same viewpoint when it comes to finances. Some of those individuals may have stumbled upon money, or they may have done some illegal activities in order to achieve their wealth. You should recognize, however, that the proportion of self-made millionaires that are crooked tends to be the same proportion of poor individuals who are crooked as well. For the most part, it has more to do with the right mindset and a lot of hard work.

The first way that self-made millionaires differ in their viewpoint of money is that they tend to focus on earning money, rather than saving money. Admittedly, wealthy individuals are going to save money and they will do so regularly, but the majority of their "extra money" is going to go into making additional money, and that is how they grow their wealth quickly. The main focus of their time and energy is going to be on earning additional money, either through their own hard work, or through the way that they use their money to do so.

Most people tend to look at money as being something that is earned and they typically equate it to an hourly wage. Perhaps you feel a similar way, or at least, you may be familiar with somebody who feels that way. When you are stuck in that type of a hamster wheel, it is virtually impossible for you to get ahead and to break out of the poor man mindset. You are simply going to continue to trade your time for dollars, and the only way that you are going to see any advancement is if you work additional hours to make additional money.

Self-made millionaires look at money in a different way, because they know that there is no limit to the amount of money that they can make for every hour that they put into a task. In fact, they leave that thinking far behind, and instead look to the amount of money that they are actually able to earn, not with the time that they spend, but with the effort that they put forth. They recognize that putting an hour into a project is not going to give them a finite return, but if they work properly, it can continue to provide them with a return on an ongoing basis.

Finally, self-made millionaires tend to look at money from a logical standpoint rather than from an emotional standpoint. Most people earn a certain amount of money and they use it in an emotional way, providing themselves with something that allows them to get from one week to the next. It really doesn't matter if it is paying the mortgage, or even going out and purchasing something that you have want to buy; it is an emotional response and it is one that keeps them poor. Since self-made millionaires look at money from a logical standpoint, they recognize what it is able to do for them now and in the long run.

4. Set Goals like a Millionaire

One of the more important things that self-made millionaires do is to set goals. This is a factor that you can apply in your life. When you apply it in the right way, you will find that it is moving you in the right direction. As you work toward your goals, even if you have not yet achieved them, you will gain momentum that will help to push you forward and to continue to grow your wealth indefinitely. Additionally, setting goals provides you with a certain purpose in life, and this is something that can help you to have the millionaire mindset as well.

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Although most of us tend to set goals in some way or another, we likely don't set them in a way that will work to our advantage. For most people, a goal is nothing more than a New Year's resolution of wanting to lose weight or perhaps giving up a bad habit. It is estimated that only a very small percentage of the population actually sets goals, writes them down and does what is necessary to work toward achieving them. In this chapter, we are going to take a look at the way that many self-made millionaires set goals and how you can mimic that mindset to your advantage.

How Many Goals Should You Set?

When many people begin to understand the power of setting goals, they begin to set goals for everything in their life. Although there certainly is nothing wrong with setting goals with the mindset of achieving them, it is necessary for you to limit the number of goals that you set. As we will discuss in a future chapter of this publication, most self-made millionaires have a singular mindset and this is also true when it comes to their goals as well. By focusing on a few goals in the primary areas of life, including finances, health and relationships, you will find that you are in a much better position to achieve them.

It is also important to review your goals regularly, if you want them to be more than something that would be nice to accomplish. After all, a goal that is not achieved is nothing more than a wish and you cannot wish your way to millionaire status. It requires specific action on your part, and you need to have your goal in front of you every day as part of your daily activities. That is why many self-made millionaires will have a morning routine that includes reviewing their goals and making sure that they have the mindset necessary to move toward those goals in some way on a daily basis.

In addition to setting goals and reviewing them daily, it is also necessary to develop a positive mindset that will help to move you toward the ultimate conclusion of any goals that you hope to achieve. Most of us tend to think negatively, especially if we deal with depression, or if we struggle to get by financially. When you wake up in the morning, it is therefore necessary for you to take a positive approach and to give yourself some positive affirmations that will allow you to feel good about yourself and to continue to move forward. The simple fact of taking a minute or two to tell yourself that it is going to be a good day, that you are a good person and that you are moving in the right direction is really going to do wonders for you.

The Need to Develop SMART Goals

As you can imagine, the types of goals that are set by self-made millionaires are often quite different than what is set by those who struggle to get by from one week to the next. In most cases, it can be broken down to the SMART goal technique, and when you apply this in your life, you would be surprised with where it is able to take you. SMART is an acronym that stands for the following…

Specific - One of the criteria for developing SMART goals is that the goal needs to be specific. When most people set goals, such as losing weight in the New Year, they are not specific with what needs to be done. Yes, they may wish to achieve a specific goal, but that doesn't necessarily mean that the goal itself is specific. Rather than saying you want to lose weight, you should say that you are going to lose 20 pounds. The same can also be applied to setting any goals for achieving millionaire status.

Most specific goals are going to be able to answer questions about the goal itself. You can ask yourself questions such as what, why, where, who and which. If you are able to identify the purpose behind the goal and do so without leaving any questions in your mind, you have achieved making the goal specific.

Measurable - Another aspect that needs to be considered when setting goals in your life is that you must be able to measure them. Being able to measure your goals gives you an endpoint, but it also helps you to stay on track and to see where you are in the stream of time. By measuring your goals regularly and setting something specific, it can really help you to achieve your goals in a much easier way.

Attainable - Would you imagine that a self-made millionaire would ever set a goal that was out of his reach? Of course, some of your goals may be rather lofty, and there is nothing wrong with setting something that you need to reach for, in order to obtain it. If you set something outside of your reach, however, it can really be problematic because most people will be unable to start on the process, let alone finish it.

Relevant - It is possible to set goals on any subject and many people do. Unfortunately, if you set too many goals in too many areas, they are going to be difficult to achieve. In order for you to get the most out of your goal setting, you need to ensure that they are relevant to the task at hand. In the case of making money, your goal should be directly related to how you are going to make money, when you are going to make money and what you will do in order to make money. You can also set goals that are relevant to other factors that are necessary to make millions, regardless of whether it is taking better care of your health or managing your time. As long as you follow the SMART goal principles, it can benefit you.

Time - One final aspect that needs to be considered when setting goals is that they need to be time sensitive. It's not enough for you to simply say you're going to earn $1 million; you need to set a time limit and then follow through in order to achieve it. By having a time set for the goal, it will give you the motivation necessary to reach the goal in that time period. It will also further allow you to navigate your goal successfully, while at the same time checking for milestones along the way, and making sure that you are keeping up with the efforts necessary to achieve it.

5. Learn How to Set Priorities

In the previous chapter, we reviewed some information about how self-made millionaires set goals in order to achieve millionaire status. Believe it or not, many of those individuals who are now independently wealthy struggled with their finances like most people. They may have lived a life that was the typical 9-to-5 mindset that holds many of us in a very difficult position. In order to break free of that mindset, they needed to reestablish their priorities. This chapter will help you to see how they did so. It can help you to establish your priorities in a similar way as well.

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Pay Yourself First - One of the things that will likely surprise you about being a self-made millionaire is the fact that you're actually going to pay yourself, before you pay anything else. That would include investing money or spending money on any bills that need to be paid (we all have bills). What it means is that you make sure that you take care of yourself and your own personal needs, and you do so before you deal with anything else. Of course, as a self-made millionaire, you will have the opportunity to do both without struggling.

Prioritize Your Time - One of the factors that need to be considered, if you plan on making millionaire status, is that you must prioritize your time properly. We will discuss the way that many self-made millionaires budget their time, and it can certainly go a long way in helping you set these priorities. As you will learn, many millionaires are very hard workers who set a priority on the work that they do. That doesn't mean, however, that they don't give themselves an opportunity to play as well.

Prioritize Lifestyle Choices - Would it surprise you to know that many self-made millionaires do not lead an outlandish lifestyle? Although they have the money to be able to afford the biggest home, to take the biggest vacation and to have all of the toys that they could possibly want, they usually forgo those options for the simple pleasure of having some extra money on hand. They recognize that prioritizing their lifestyle is not only going to help them to maintain their millionaire status, it is also going to provide them with many of the benefits that we discussed in the previous chapter.

One Thing - Another factor that we are going to discuss in the following chapter is the singular mindset that many self-made millionaires develop. It is important to prioritize yourself in this way because it can help you to get the most out of your time and effort. When you are singular in your efforts, you will achieve more in the long run.

The Most Important Things - Although many self-made millionaires are hard workers and they may even be considered workaholics, most of them are willing to give up the most important things in their lives. In many cases, this will include the relationships that they may have taken years to grow. When you prioritize the most important things in your life, it will make it much easier for you to focus your efforts and to make the money that is necessary to follow your dreams.

6. Develop a Singular Mindset

As you probably recognize by this point in the publication, a self-made millionaire often has a mindset that is quite different than most people. It is seen in a number of different ways, but one way that is very important to understand is the singular mindset that most self-made millionaires possess. This is often something that is foreign to many people who live a day-to-day life and may struggle to get from one paycheck to the next. As they continue to work on their life and to do what is necessary to get by, they may find that they are pulled in many different directions.

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Most self-made millionaires realize, at some point or another, that it is impossible to be pulled in too many directions and still accomplish anything. To do so would defy all logic, so it is necessary to focus your efforts if you want to achieve anything. Rather than trying to multitask and get multiple things done at the same time, they put their best foot forward and they work on one thing until they are able to accomplish it. If you are able to apply this type of mindset in your life, it can really take you places.

As you will learn, the singular mindset is part of the time management techniques that are reported to be the most beneficial to those that use them. Although some people feel as if they can multitask and take care of many functions at one time, study after study has shown that it is basically impossible to do so. As we continue to multitask and work in too many different directions, it reduces our productivity, and eventually takes us out of the running for gaining wealth.

Unfortunately, a singular mindset often has negative connotations that are associated with it. If you do any research on having a singular mindset, you are likely to read information about people who are narrow-minded in their point of view and how they look at life. That has nothing to do with the singular mindset that is achieved by self-made millionaires, however, and it is something that you need to look beyond. The singular mindset of self-made millionaires is a matter of focus, and focus breeds success. It is something that you should apply in your life if you want to achieve great things.

In order to develop a singular mindset, you need to be fully convinced that you are working on the proper project. One of the difficulties that many of us face is that we have far too many options available and a limited amount of time to pursue them. Again, this is something that will also be discussed in the chapter on time management, but it is also important to recognize its importance in developing a singular mindset as well. When you are convinced in your mind that you are moving in the right direction, it can provide you with the motivation necessary to get moving.

As we continue to discuss the additional secrets of self-made millionaires, think about how they are often moving in a singular direction. Even though they may be developing multiple projects or even putting their money in different areas to make additional money, it is still with one singular purpose, that of making money and of increasing wealth.

7. How to Budget Your Money like a Millionaire

When many people think about the possibility of becoming a millionaire, it fills their minds with the possibilities of what money has to offer. In many cases, it is closely associated with the portrayal of millionaires by the media with their outlandish spending, unusual vacations and large homes and automobiles. In reality, however, a self-made millionaire will look at money much differently, and they may live more frugally than many people who earn a paycheck and struggle from one week to the next. In this chapter, we are going to talk about the typical budget of a self-made millionaire and how you can apply it in your own life.

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First of all, it's important to understand that everybody should have a budget, regardless of whether they are broke or if they have millions of dollars set off to the side. Without a budget, you can never expect to fully accomplish what is possible financially, and you may end up struggling, either now or later. If you develop a millionaire budget from the start, however, it will provide you with the opportunity to make money rather than to spend it all.

If you think of the millionaire lifestyle as being one where you are throwing money away, you have a lot to learn. The fact of the matter is that the majority of self-made millionaires are not only frugal; they are very tight with their money. They recognize the fact that having money on hand provides opportunities, not only to live a life that is free from financial worry, but also to make additional money as well. You may look for a bargain now, but that is something that you should never stop doing. Set your budget up in such a way that it will provide for a frugal lifestyle, yet one that is comfortable for your means.

It is also important to apply the basic principles of budgeting, regardless of whether you are broke or rich. Those would include the fact that you should spend less than 10% of your monthly pay on entertainment and never spend more than 25% on housing. Credit card debt is going to be something that is absolutely out of the question, and you should work to get rid of your credit card debt immediately. In addition, you should look for ways to invest your money wisely for your retirement because it will provide for you in the future, while also giving you a tax shelter at the current time.

It is also important to set aside some money in savings and to do so consistently. This is part of the process of paying yourself first, which we discussed in a previous chapter. Believe it or not, many individuals who are self-made millionaires do not necessarily make an extraordinary amount of money. What they do, however, is to set aside a specific amount of money every week, and they do so consistently.

Once you have some money set aside in savings, you should learn how to use that money in order to make more money. Although you would never want to risk your savings and put yourself in a bad situation, you should always keep some set off to the side for a rainy day. Typically, it is best if you invest about 50% of your savings and save about 50% of it. Although being aggressive with your money may work out in the long run, it can also cause problems for you as well. This principle of saving your money and investing half of your savings is something that can begin to be applied, even when you are living from paycheck to paycheck.

How much money should you be setting off to the side every week? The Golden number tends to be 20% of your overall income. This should be consistent, even when you're first starting out, and you should continue to put 20% of your income aside as you become a millionaire. It allows you to save enough of your money now to work well for you in the future. In addition, it provides you with a very specific goal, and as we discussed, specific goals are much easier to achieve.

Budgeting your money is really about looking at the numbers and adjusting them when necessary. It is something that is going to be done throughout your life and it will not change, even as your income bracket changes. It is important for you to budget your money so that you can have some set off to the side, and to continue to budget your money so that you can live a millionaire lifestyle, which is one that is comfortable yet frugal.

8. Make Your Time Count - the Millionaire Secret

One of the factors that many people have a difficult time grasping is how self-made millionaires are able to accomplish everything that they're able to accomplish. After all, most individuals who are self-made millionaires came from different beginnings, including many that worked a 9-to-5 job, but saw that there was something better in their future. They are just as busy as you and I, but they were able to get beyond what had to be done and do something that was significant. In this chapter, we're going to discuss how self-made millionaires make every minute of their day count.

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First of all, you will hear a lot of information about extending the amount of time that you have in a day, but in reality, it is impossible to do so. We all have the same 24-hour day and regardless of what we rearrange, it is still only going to be 24 hours long. It has more to do with time management than time extension, and if you manage your time the way that self-made millionaires do so, you would be surprised with what you're able to accomplish.

One of the factors that allow self-made millionaires to get so much done during the day was discussed in the chapter on their single-minded mindset. Rather than trying to focus on many projects and to accomplish everything that needs to be done at the same time, they focus their attention on one thing and they complete it. This is something that you can take advantage of as well, by focusing your efforts on the most important things that need to be done every day.

Planning the day is therefore one of the more important aspects of getting more things accomplished. Many individuals who are millionaires and work very hard during the day will take a few minutes in the evening to plan out the following day. This is done in the evening to avoid a problem with procrastination, which affects many individuals. When planning the following day, write down the 3 most important things that need to be accomplished. Those are the items that need to be focused on during the following day. You will likely need to accomplish other things during the day, but the three most important things must always get done.

It is also important for you to work in uninterrupted blocks of time. This is a time management technique that is used by many individuals, and self-made millionaires have discovered that it is one of the best ways to accomplish more in less time. The amount of time that you spend in each of these blocks of uninterrupted work time is going to differ according to your circumstances. Typically, however, it is best if you work in at least a 60-minute time block, in order to get more accomplished.

Something rather interesting tends to happen, when you focus your efforts in one direction for a specific amount of time. As you continue to work in that time block, you will find that you are being more and more productive. As long as you're uninterrupted, you will be able to accomplish great things and to do so in a relatively short amount of time. Unfortunately, many of us allow ourselves to get distracted in a variety of ways, and that can really be problematic.

Most time management experts agree that any type of distraction is going to take you out of your productive mode for a minimum of 20 minutes, and some think that it may even be for a half hour or longer. The type of distraction that can take you out of your productive mode can be anything from a text message or email, to a telephone call or having somebody walk into your office. That is why it is very important for you to avoid any of those distractions. You can do that by turning off any electronic devices that could cause those distractions to occur. Many self-made millionaires are approachable, but when they are working, they want to be left alone.

Waking up early in the morning is also a strategy that many self-made millionaires use, in order to get more accomplished. Many of them have their own morning routine or ritual that they follow on a daily basis. Typically, it includes some form of exercise, some reading and meditation. The mornings are also usually a time when many self-made millionaires will provide themselves with positive affirmations to get prepared for the day ahead of them. They recognize the fact that keeping themselves healthy and well-balanced, by following a strict morning routine, is one of the best things that they can do in order to accomplish everything that needs to be done.

Of course, the time that self-made millionaires wake up is going to vary from one individual to another. Many will follow the axiom, early to bed, early to rise, but not every millionaire is going to be an early riser. As a matter of fact, there are some self-made millionaires that tend to work at night, and they may work until the early hours of the morning and then sleep in late in the morning. It really depends upon their circumstances, but they work during the most productive times of their day, rather than trying to make a specific time their most productive.

Finally, most self-made millionaires have mastered the art of avoiding procrastination. If there is one thing that keeps people in a 9-to-5 position and running on the hamster wheel, it is procrastination and the inability to get something started. Have you ever suffered from this type of problem, doing anything that you possibly can to avoid taking on the task at hand? Understanding the secret behind procrastination can let you know why many self-made millionaires are able to avoid it.

Procrastination is not a problem with laziness; it is a problem with being overwhelmed. When you have too much on your plate in front of you and you feel like you are never going to get to the end of the task at hand, it becomes more and more difficult to get it started. The fact of the matter is, however, getting started is exactly what is necessary, if you want to overcome procrastination and even to avoid it altogether. Studies have proven that taking the first step is the most important, and once you are into a project, it is human nature to complete it.

Many self-made millionaires understand that procrastination is the worst thing that can take place if they want to be productive. They recognize that getting started on a project is the most important step, and so they will not hesitate to jump into a project, even if it seems as if they are never going to get it completed. If you want to take a page out of the self-made millionaire handbook and use it in order to accomplish more, and to make your own fortune, it would be to avoid procrastination by working hard without delay.

9. Invest Money Instead of Spending It

Throughout the pages of this publication, we have often discussed the different mindset that is held by those who are self-made millionaires. It is often the determining factor that allows them to make the millions that they now have at their disposal. Most individuals, who live their life working a 9-to-5 job and struggling to get from one paycheck to the next, are going to look at money in a much different way than those who are already millionaires. In fact, it is the view of money that is often the determining factor in how much money a person has.

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Most people tend to look at money as something to spend. The money that they find in their pocket is not typically going to stay there very long. As we discussed in the previous chapter, putting some money aside in savings is one of the most important things that can be done if you want to become a millionaire. It is all part of paying yourself first, which is a very important factor for ensuring that you are well set financially. Of course, what you do with your savings is really going to make a difference in how much money you make.

Something interesting that is different between most people that struggle financially and self-made millionaires is the fact that millionaires look at money as a tool to help them make more money. Yes, they also spend money and they enjoy the money that they have, but the majority of it is going to be looked at as a tool to be used for investment purposes. That is really one of the key factors that allow someone to move from having savings to have extraordinary savings.

When most people think about investments, they really only consider the stock market or perhaps investing in Forex. The fact of the matter is, however, there are many different types of investments, and they are available regardless of whether you have millions of dollars in the bank, or if you're just starting your savings account. Investing the right way can certainly make a difference in your ability to make the money that you need in order to eventually become a millionaire. It is also important for you to invest wisely and not to be too aggressive in your investing. Typically, you should set aside approximately 20% of your income for savings and up to 50% of your savings should be used for investment purposes.

One of the ways that self-made millionaires invest their money is by investing in themselves. They recognize the fact that self-improvement is often going to assist them in making more money and in doing more important things with the money that they do have. It could be that they are learning about other types of investments, including stocks, but it is also a matter of improving themselves to the point where they are able to maximize what they can get out of life as well.

As we will learn in a future chapter, millionaires also invest in multiple opportunities. Having more than one income stream is imperative, if you want to protect your money and make sure that you are moving ahead financially. At the same time, however, they continue with their singular mindset, and when investing, they make sure that they are focusing in one area and making it work. It is really a balancing act but when it is done properly, it is one that can help to make you a considerable amount of money, and it certainly allows your money to work for you.

10. Develop More than One Income Stream

Just as we rely on income in order to make it from one week to the next, self-made millionaires also rely on sources of income to ensure that they can continue with their lifestyle and increase their savings and investments. One important thing to consider in this regard, however, is that, unlike most people, self-made millionaires tend to have multiple streams of income. In doing so, it provides them with a degree of security so that if one of the streams of income should happen to dry up, there is always something else that is working in the background.

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Of course, many individuals that have a considerable amount of money are going to focus on the primary source of income, and they will give it the lion’s share of their attention. For example, Warren Buffett (a billionaire) may have various streams of income, but he tends to focus on investing and capital gain as a source of income for the majority of what he does. He continues to focus on that source of income, but you can be certain that there are other things that are working in the background that also make him money on a regular basis.

Real estate is a common way that many self-made millionaires continue to make money on an ongoing basis. It could be from the rental income that is available from multi family apartments, or it could be a more basic matter of purchasing real estate, having it repaired and then selling it for a profit. Real estate has been and probably always will be one of the more secure ways to invest your money, and many self-made millionaires come to that realization early in the game.

Various forms of interest may also play a part as an income stream for self-made millionaires as well. Admittedly, the interest that is available on most current savings accounts is rather dismal, but there are other ways for you to earn interest, including investing the money in loans or perhaps purchasing treasury bills. When you have enough money to invest, you are often able to use the interest from certain investments in order to fund your day-to-day life.

Like you and I, many self-made millionaires continue to work, and as a result, they do make an income from the work that they do. In some instances, it may be from income that comes from an outside resource while working as an employee, but that is not always the case. The income that is earned by self-made millionaires may not be extraordinary, but the way that they use the income is what makes a difference in their financial situation.

Finally, profit is one of the more important ways that many self-made millionaires make money and will continue to make money for the long term. They may have a number of different businesses, including some that are running behind the scenes, practically on autopilot. Most self-made millionaires will recognize the fact that they are able to make more money in profit from a business than in earning an income, so they will focus the majority of their efforts on earning profit.

These are just a few of the ways that millionaires make their money. There may be other things that are operating behind the scenes on an ongoing basis. It really comes down to making sure that you have a safety net. This is done by having multiple sources of money that are constantly coming in, rather than relying on a single source of money, which may be here today and gone tomorrow.

11. Have the Right People Behind, Under and Beside You

Although some self-made millionaires were able to make the majority of their wealth on their own and continue to lead a somewhat secluded life and still have money coming in regularly, that is not typically the case. As a matter of fact, most self-made millionaires will have a host of people around them, and these people may play different roles in allowing them to make the money that they need to make. In this chapter, we will look at some of the roles that people may play in your life. When you use your relationship with those individuals in the right way, it can really help you to build your wealth quickly.

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One of the most important things to consider when you're trying to build wealth is to have the right people behind you. Those are the individuals that are going to push you to success, and they will often be the ones that allow you to make your millions, even if you are starting from scratch. For example, there may be somebody that is willing to invest in your business. Those individuals are the ones that allow you to move forward and to see success in life.

In addition, having people behind you who have already seen success can be a great motivator. Those are the individuals that are going to provide you with what is needed mentally, in order for you to make the change from living a day-to-day life that keeps you on the hamster wheel, to living a life with abundance. That is why you want to make sure that you have people behind you that are not only there for you financially, but are there for you as mentors that can guide you on the difficult path to success.

Having the right people under you is also important, and it is a factor that is familiar to most people. These are the individuals that are going to work for you, and in some way or another, they are going to help to provide you with what is necessary to live a millionaire lifestyle. Of course, each individual is going to have a different need as far as the work is concerned. But if you hire people that are competent and able to care for your needs, it can really help to move you forward quickly.

One thing to keep in mind is that the individuals who are under you should always be compensated fairly for the work that they do. Those individuals may be of the financial mindset that they can only live from one week to the next, but you can do your part in making sure that they are both happy and satisfied with the money that they receive from you. When you have a happy staff, you have a productive staff; one that is much more likely to care for your needs while you are caring for theirs.

Finally, it is important for you to surround yourself with individuals who have the same mindset that you are trying to develop or have already developed. Just like the people who are behind you, those that will help to push you to success, individuals that are beside you will help to lead you to success along with them. These are the individuals that will be your peers, and their attitude is certainly going to wear off on you, so make sure that they have the right attitude to help you to move forward.

Other people, regardless of what their position is in life, influence us. If you want to develop a millionaire mindset, therefore, you will want to make sure that you are surrounding yourself with individuals who will have the right type of influence on you. It doesn't matter if it is coming from your side, from behind you or even from those that are working for you. When you develop the right mindset, it typically comes as an influence from others, and then you have the opportunity of influencing someone else to develop it as well.

12. Do What You Love or Love What You Do

One piece of advice that you will often hear about business is that you should do what you love. It certainly can make it pleasant when you are surrounding yourself with something that feels good to you and you are making a living from it. That is also a secret of self-made millionaires, but it goes beyond doing what you love. As a matter of fact, many self-made millionaires make it a point, not to do what they love for a living, but to love what they do.

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If you were to ask most self-made millionaires about what they do for a living, you will find that it is not necessarily a passion of theirs from sometime in the past. At some point or another, however, they learn to appreciate what they are doing, and that can go a long way in helping them to stay interested and on track in meeting their goals. In a similar way, you can learn to love what you do as well.

In essence, it really has to do with developing the proper mindset, which is a common thread that we have discussed throughout this publication. It doesn’t matter if you own a chain of restaurants, purchase real estate, buy stocks and bonds, or work for a living and invest your money in your own business. It really is something that grows on you, and as you see that it is working for you, it becomes easier for you to love what you are doing.

Although it may be possible for you to do what you love at times and to make some money from doing it, don’t be surprised if what you love to do is not necessarily what is going to make you the most amount of money. When you have a passion for making money, however, and you use that passion in order to push yourself forward, you would be surprised with where it is able to take you.

13. Roll with the Punches and Celebrate Success

Many people mistakenly assume that millionaires have life handed to them on a silver platter. Although it certainly is possible that some millionaires were born as such, that is not what this publication was meant to describe. We are talking about self-made millionaires, and in many cases they are normal, everyday men and women who were able to accomplish something extraordinary because they put their mind to it and they pushed forward, even when things got difficult.

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One of the factors that allowed them to make their millions is the fact that they did not give up in the face of difficult times. Just like you and I, millionaires face their ups and downs. At times they may have the rug pulled out from underneath them and find themselves back at square one. There are also those who were able to save smartly, and as they continued to put money away and allowed it to work for them, it continued to grow. Those that did experience difficulties, however, were able to get beyond them, and they did so with the singular mindset that we have discussed many times in this publication.

When times get difficult, such as when an economic downturn occurs, life can be very hard on everyone, regardless of his or her status. Those who have made their millions and are self-made individuals are able to look to their savings, and it does provide them with a degree of security during those difficult times. That is really the position that you want to be in, and is what this book is designed to help you to do. When you are able to put money away and to have something to fall back on when things get difficult, you will find that life gets much better as a result.

Of course, millionaires often celebrate their success as well, and that is certain to be something that you will appreciate as you continue to grow your money. In fact, it is often the celebration of success that will make a difference in your being able to stay on track and continue to push forward when you are having a difficult time along the way. Part of achieving your goals is to recognize when any milestones are met, and that is an excellent time for you to reward yourself in some way or another. It can either be a monetary reward or something else that you find enjoyable, but the reward itself is something that should not be overlooked.

The road to making your millions is not going to be one that is always easy. You will find, however, that there are times when you are experiencing extraordinary success, and those are the times that you should keep foremost in your mind. When you do experience a roadblock along the way or some type of temporary setback, you will find that it gets much easier to bypass when you’re able to look positively at your situation. Once you are able to develop the millionaire mindset and put into practice the secrets of self-made millionaires, you will be able to achieve what you set out to do.