If you have ever wondered how millionaires managed to get there, then check out the traits they all seem to have in common, for they never struck it rich by chance.
It took much more than the action of a “benevolent kernel-cracking spirit” ― to paraphrase Chinua Achebe ― for them to stand out from the crowd.
Millionaires have big dreams and visualise no doubt their dreams coming true. They are creative visionaries who won’t have negative attitudes. To become a millionaire, one must therefore set lofty goals and not be afraid of exploring territories never ventured into before.
Millionaires think out of the box about everything, not just about money. They are not comfortable striving to conform, they would rather create their own path. Remember that our thoughts impact our actions, and we ought to think in a way that will get us to our goal.
Enjoying your work allows you to have the discipline to work hard at it every day. People who interact with money for a living, bankers for example, often love creating new deals and persuading others to complete a transaction. Hear billionaire investor Warren Buffett: “Money is a by-product of something I like to do very much.”
Millionaires don’t mind sacrificing time and money to achieve their goals. They are willing to take a risk now for the opportunity of achieving something greater in the future. Investing may include securities or starting a business – either way, it is a step toward achieving great financial rewards. Start investing now.
Millionaires are constantly presenting their ideas and persuading others to buy into them. Good salesmen don’t take “no” for an answer. Millionaires also have good social skills. It is even said that with millionaires, social skills are more important than IQ.
Not only do soon-to-become millionaires concentrate on their area of excellence, they also do not hesitate to partner with others to complement their weaker skills. The secret here is to try and discover what you are good at and to refine your strong skills.
Financial Expression of the Month: Sin Stock
A stock of a company either directly involved in or associated with activities widely considered to be unethical or immoral. Sin stocks are found in sectors whose activities are frowned upon by some or most of society, because they are perceived as making money from exploiting human weaknesses and frailties. Sin stock sectors therefore include alcohol, tobacco, gambling, sex-related industries, weapons manufacturers and the military. Also known as “sinful stocks”, they are the polar opposite of ethical investing and socially responsible investing, whose proponents emphasize investments that benefit society.