| In 2007, there were roughly 9 million Americans | | | | more than twenty years. Another real-life |
| who had a net worth of one million dollars or | | | | example is billionaire Warren Buffet, who lives in |
| more. Representing only 3% of the entire U.S. | | | | the same house in Omaha, Nebraska he bought |
| population, they are indeed a special group of | | | | for $31,500 in 1958. |
| individuals who have achieved more than the | | | | Are they smarter and more intelligent than us?Of |
| American dream - they are the American dream! | | | | course not! About 65% of millionaires have a |
| Since 2003, the number of American millionaires | | | | bachelors degree, 18% have obtained master's |
| has increased every year by 15% on average. | | | | degrees, 8% law degrees, 6% medical degrees, |
| Are they financial geniuses compared to the rest | | | | and 4% PhD's. Most millionaires will tell you what |
| of us? What do they know that you and the rest | | | | they learned in college helped them somewhat, |
| of America does not, and how can you learn to | | | | but real-life business experience was a far more |
| become one of them? These financially superior | | | | effective instructor. What about a business plan? |
| Americans may know the formula for creating | | | | The average millionaire relied more on instinct, |
| wealth, but they don't own it. In capitalist America, | | | | ambition and daily goals rather than a formally |
| the formula for wealth creation is available to the | | | | written business plan to achieve their business and |
| bank teller, barber and Mary Kay consultant, but | | | | financial success. |
| the question is, will they seek it out and use it? | | | | Finally, how do you become a millionaire? |
| What millionaires do for a living? | | | | Well of course it's not some secret wealth |
| The typical American millionaire is a self-employed | | | | formula that "white folks" are hiding from us! You |
| (hustler) or business owner (baller). Of the 9 million | | | | now know what the average American millionaire |
| millionaires, about 65 percent are self-employed. | | | | looks like, what they drive, how much they save, |
| About 4.5 million are business owners, who own | | | | how they make money, and how they behave |
| restaurant franchises, auto dealerships, real | | | | and think financially. They don't spend money on |
| estate, and car washes. Another 1.5 million are | | | | things that decrease in value. They invest their |
| self-employed professionals consisting of doctors, | | | | money in assets or objects that will increase in |
| lawyers, and accountants. About 66% of | | | | value or put money into their bank accounts. |
| millionaires work between forty-five and fifty | | | | They don't have to look wealthy because they |
| hours per week, but most enjoy what they do | | | | know they are wealthy. They write down daily |
| and don't consider it work. | | | | weekly business and financial goals to make |
| How much is a millionaire's salary? | | | | certain their everyday moves are related to |
| Contrary to popular belief, you don't need a million | | | | reaching those goals. They know they can't do |
| dollar salary to become one. The average | | | | everything themselves so they employ leverage, |
| millionaire only makes about $130,000 per year, | | | | which is using other people's time, money and |
| but they do something the majority of Americans | | | | efforts to achieve results. |
| have proved they simply can't do -- SAVE and | | | | Where average people see financial disaster they |
| INVEST! Another millionaire misconception is that | | | | notice business opportunity and immediately |
| most are wealthy because of an inheritance. | | | | capitalize on that opportunity before the window |
| However, roughly 80% of millionaires are | | | | closes. According to Dr. Thom Stanley, author of |
| self-made business people who had ambition, | | | | Millionaire Next Door, it takes the average |
| discipline, financial education, and goals, and | | | | millionaire 17-18 years to become one and most |
| received no inheritance. | | | | are first generation and started with little or |
| How do Millionaires live?Most millionaires save | | | | nothing. |
| between 15-20% of their income, wear | | | | Remember, the average millionaire only makes |
| inexpensive clothing and drive late-model cars. For | | | | about $130,000 a year, but can live on $50,000 |
| example, billionaire Warren Buffet drove a 2001 | | | | and save and invest the rest. Get ready! Now |
| Lincoln Town car before he auctioned it on Ebay | | | | your goal should be to see how you could make |
| in 2005 for charity and drove a 1983 Oldsmobile | | | | $130,000 a year. Get set! Take $130,000 and |
| for 15 years before purchasing the Town car. | | | | divide by 12 and you get about $10,800 per |
| Also, you won't catch Bill Gates in the MayBach or | | | | month. Now find 1,000 items (your labor, cars, |
| $400,000 Rolls Royce Phantom (Jay-Z's favorite | | | | clothes, real estate etc.) that you can sell and |
| car), instead he drove a 1999 Porsche 911 | | | | make an average profit of at least $10.80 or |
| Convertible and a 1988 Porsche 959 Coupe. | | | | more and keep your cost of living at $50,000 a |
| About 97% of millionaires own their home and | | | | year and it should only take you about twelve |
| their homes on average are worth $320,000. | | | | and a half years to become a millionaire. Go! |
| Most of them have lived in the same home for | | | | Create Wealth, Enjoy Life! |