Want to know how to become a millionaire?
Well…Jaime Tardy interviewed more than 120 millionaires to learn the “secrets” of how to become a millionaire and published her findings in a book, The Eventual Millionaire, which explains the most important insights from those interviews.
Today I’d like to share 5 of the many ‘secrets’ she revealed in her book.
1. Make Your Life Happy Before Making a Million
One of the key things Tardy learned during her many interviews was that you need to make your life happy first.
That doesn’t mean being rich or working towards a million. That means working on the other aspects of your life.
Everyone thinks the million dollars will give them the lives they want.
Of course, it doesn’t.
If you want an enjoyable life, it’s easier to obtain that enjoyable life first – before making your first million.
It can still be about the money, but only after you choose your life.
I’ve often written about the importance of gratitude and appreciating the life you have, otherwise, the million dollars really won’t change anything.
Tips: Action Item: Evaluate your life and change one thing you’re not happy with.
2. Control Your Money - Don’t Let It Control You
Millionaires set a goal and then work toward it.
There’s never a nebulous plan for a million says Tardy.
Often one of the first steps in that plan is to get rid of their debts and take control of their finances.
Next, work on your lifestyle. Figure out what work makes you happy by trying different things.
Figure out what your real goal is says Tardy, whether it’s to create a million-dollar business or just have enough money to retire comfortably.
Then start to work toward that goal.
Remember, your goal should be your own and not just a vague goal of having a certain amount of money.
While your final goal will definitely include money, it should also include other things important to you – to be the goal to achieve.
Tips: Action Item: Become financially fluent, spend less than you earn, create a debt repayment plan and follow through with it. Then eventually invest your money.
3. Take Opportunities
Tardy found millionaires constantly rise to meet any challenge presented to them.
They take action.
When an opportunity falls into their lap, they take it, barrelling through any obstacles that might be in the way.
Millionaires don’t sit around for weeks analysing an opportunity or making excuses for why they can’t follow through with it.
They do whatever it takes to meet the challenge and do it well.
This is an important trait of all millionaires and a mindset you should adopt if you want to become one.
The point is opportunities, especially the great ones, don’t come very often.
Tips: Action Item: Say yes to at least one new opportunity.
4. Overcome Your Excuses
In her book, Tardy explains that millionaires don’t let excuses hold them back from anything.
They realise every excuse has a solution and they work hard to find the solution to every excuse that may arise.
As I’ve already explained - they take action.
If you want something bad enough, then you’ll undoubtedly find a way around any excuse you can come up with.
As they say, where there’s a will, there’s a way.
Millionaires live by this code.
If you are someone who wishes to become a millionaire, then you have to live by this code,
Tips: Action Item: Identify one excuse you’ve been using as a crutch and take action to squash it.
5. Millionaires Play a Bigger Game
Tardy noticed how things that seemed huge or scary to her were old hats to millionaires.
This is because they’ve taken those scary steps in order to keep moving forward.
The more we do things, the more normal they get.
So, don’t compare your Chapter 1 with somebody else’s Chapter 20 – they’ve had time to overcome their fears and move forward.
Everything that is easy today was once hard to do.
So just take the first step, even if it’s scary. It’s totally worth it!
Never lose sight of what’s important to you, and don’t forget it’s not all about the million bucks!
Tips: Action Item: Do one thing you’ve been too scared to try and just do it.
