Researchers have identified the fastest way to become a millionaire, but will not be easy
Why is it difficult to achieve financial success in life? What rituals do wealthy people do every day? Is there a specific formula for wealth accumulation?
For five years, observing and documenting the daily activities of 233 wealthy people (each of whom had an annual gross income of at least 160 000 US dollars and net assets of 3,2 million US dollars), the head of the study “Habits of the rich” found that there are four ways to to becoming a multimillionaire, writes CNBC.
1. The path of Saver-Investors. No matter what their job is, people in this group make their savings and investments part of their daily lives. They constantly think about ways to increase their wealth.
2. The way of careerists. They work in a large company and devote all their time and energy to raising the career ladder until they get the highest executive position with a very high salary.
3. The path of virtuosos. This group is one of the best in their profession, they are paid a high premium for their knowledge and experience. Formal education, such as degrees (for example, law or medicine), is usually a prerequisite.
4. The path of dreamers. all people in this group aspire to a dream, for example, start their own business, become successful actors, musicians or best-selling authors. Dreamers love what they earn a living from, their passion manifests itself in bank accounts.
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The path of dreamers is the fastest way to get rich
About 28% of the people in the study were dreamers. Their average net worth was 7,4 of a million dollars - much more than any other group in the study. They have been able to accumulate this wealth for approximately 12 years.
This is the fastest and most useful path to wealth, guaranteeing the greatest amount of money. For example, consider Forbes 400 list this year: seven of the 10 richest billionaires in the world, including Jeff Bezos, Bill Gates, Mark Zuckerberg and Michael Bloomberg, are dreamers. They got rich creating their own company.
At the same time, the path of dreamers turns out to be the most difficult, most risky and most stressful. “At worst, it's a daily walk through hell,” one dreamer told me.
“This is riddled with obstacles, disappointments, mistakes, failures and financial struggles,” he added.
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Why is the path of dreamers so difficult?
It will take tremendous physical and mental stamina to follow this path. Here are some of the main reasons why:
- Irregular working hours. In the study, dreamers worked 65-75 hours a week before reaching their dreams. There were practically no days off and vacations. Family and friends suffered the most from their absence.
- Stressful lifestyle. Until the dream begins to bear fruit, making ends meet can lead to unbearable financial stress. Especially hard for those who have a family. At the beginning of the way, having a stable salary is almost impossible.
- High risks. Dreamers are by nature players; they are ready to stake everything they have at stake — their homes, cars, and savings. And there are absolutely no guarantees of success. In fact, more than half of the dreamers said they had repeatedly failed. And failure can often lead to bankruptcy.
- Demotivation. Since dreamers have such ambitious goals, many of which may seem almost impossible, some people (with good intentions, of course) try to convince them to go the other way. Dreamers also often hear the word "no."
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Who can succeed on the path of the dreamer
- Working for the boss is not an option. Dreamers prefer to work for themselves, rather than under the guidance of a manager or employer. They like to do things their own way.
- Targeting You set daily, monthly, annual and long-term goals. For dreamers, defining a goal is not that “I I will try to achieve, "and that" to me necessary to reach. "
- Daily self-help classes. You are constantly working on how to become stronger, smarter, faster and better than your competitors.
- Moderate lifestyle. Dreamers do not squander themselves and their reserves to the unnecessary. It is rare to find a dreamer having lunch in a trendy restaurant in the early days of a career.
- Not limited to your own mistakes. Although you know how important it is to learn from your mistakes, you still tend to pay more attention to your successes.
Dreamers remain in the game because they are extremely confident that they will succeed - and they are ready to pay huge dividends in the future so that everything happens. Therefore, the next time you see a millionaire entrepreneur, do not envy what he has. Envy their relentless perseverance.
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