The Real Truth Behind Millionaire Success Is Simpler Than You Think
“The Real Path with 3 Actionable Tips”
If you ask any beginner investor what habits could make him a millionaire, he will probably tell you, “wake up at 5:00 AM, exercise, use the same pattern of clothes every day, and have a schedule,” and thousands of ridiculous advice that don’t have to do with money.
Some are one step ahead and will tell you to “don’t drink coffee, invest 40% of your money, and live frugally”.
Of course, these things could help you be organized, healthier, and become more productive, they are not the direct path to success unless you want to retire after 50 years.
Here’s the truth, if you are focusing on waking up early every day and then doing nothing for the rest of the day, then the only thing you will achieve by doing so is feeling tired by noon or by evening. What actually matters is not how much time you have but what you do with the time you have.
It’s the same with the “stopping daily cup of coffee thing,” If you decide to stop drinking it but then do nothing with the extra $3 you saved by not drinking, then it would be better for you to keep drinking it because at least you were doing something that made you happy.
I once met a guy who had a $100k debt. When I asked how he paid that off, he didn’t tell me he stopped drinking a $3 cup of coffee and woke up early; he focused his time and knowledge on things that will actually produce good results and new ways of income stream to earn more and more day by day and year by year.
The reality is that millionaire success is simpler than you think, but it is not fancy and doesn’t sell as much as telling you to be in shape and “productive in the morning.”
Here I will tell you three pieces of advice that will earn you more money than cutting out coffee or waking up early.
Find a way to earn at least $1000 more annually.
Many people focus on saving $50 a month by cutting their hobbies like Netflix or games or things that make them happy like coffee or ice cream because they need to save more, but this doesn’t work for the same reason that crash diets don’t: You’ll quickly get tired of saving and you won’t find motivation, so you’ll come back to spend the same or more as before.
For that reason, instead of limiting my lifestyle, one way I found to save more money is to increase my earnings.
But how do you find ways to earn more? The actual way that millionaire people do. And I am not talking about their routines; I am talking about the money they make by making you believe you need to follow simple patterns.
For example, in his popular book “atomic habits,” James Clear shows people how small things every day can make a big impact. However, what actually made an impact in his life was that this book has sold over 15 million copies worldwide.
In “The Simple Path to Wealth,” J. L. Collins talks about how investing in index funds can make you a millionaire in 40 years, thanks to the compound interest. However, he also has sold millions of copies in less than ten years and could achieve more than following simple habits and frugality.
So what must you do to earn at least $1000 more this year? Instead of watching a youtube video about how to make more money, create a video and become a content creator. Search for a new client, create a side hustle/business, write a book, and sell at least ten copies to your friends.
In summary, do the things that rich people do to earn money instead of following their hobbies.
Level up so you can ask for more money from your boss and clients.
When I worked full-time for companies, it didn’t matter how comfortable I was where I worked; every six months, I would go on LinkedIn and search for job offers.
That allowed me to:
Keep my knowledge fresh, or study new technologies if necessary.
See how well paid I was in my current company to negotiate a new offer.
This helped me raise my salary by three times while working in the same company for more than 20% and level up my knowledge of the current technologies other companies were looking for.
Many people think they are not in the position to ask for more money because they feel they are not well-prepared or are afraid that the company or client can’t pay them more.
For those cases, I just take interviews in other places so I can have a backup plan. If you are smart enough to achieve a good position in another place with the salary you want, then you are completely capable of asking for a raise, and if they don’t give you what you want, you can leave.
Taking interviews also helps you understand what you are missing and what skills you need to improve to have a better position.
I was working for a reputed company for a long time, and my career was going great, I was afraid of taking new opportunities that came on my way with the thinking that here in my current job, I m settled and known by higher management and its stable job. What if the new opportunity doesn’t suit me or what if it’s not a stable job etc. But I always use to feel that something was lacking in my current job. Finally, with so much difficulty, I accepted a new opportunity in a new startup with almost double my current salary. and that jab allowed me to learn so many new skills which I would have not in my previous job and from there I never looked back.
Invest the amount that makes you comfortable without losing your lifestyle and comfort.
Many financial gurus, books, and seminars will advise you to invest 50, 70, or even 80% of your money to be rich one day.
However, investing habits only work when you are comfortable with the amount you are spending there and have enough knowledge to not lose everything.
In 2020 I started investing in cryptocurrencies because of the hype. I have always been very extreme with my investing, so I practically invest all my monthly salary on different coins to one day be “rich.” I was frugal so I could invest more, and every extra dollar I earned went to my crypto portfolio.
The problem is that I did not research well before investing, and I ended up with a portfolio of 70% down from the money I invested that year.
When everything started going down, I stopped putting my money there, and I lost all the motivation that led me to start.
Clearly, I regret having used practically all my money each month to build a useless portfolio, but I learned that I must first satisfy my personal needs before investing.
Investing works even if you only put $100 monthly there; what matters is consistency and good knowledge in the area. So instead of putting a lot of money in one market hoping to be wealthy one day with it, it’s better to spend $300-$500 on a good course and start with little.
I started using my money more smartly when I learned how each market worked. Now I don’t enter 70% of my salary with faith, but a realistic amount that I know could make a big impact later.
Don’t feel you have to invest everything because you need to be wealthy, do it because you are sure that you could earn something from it.
Final thoughts
People love fake senses of accomplishments.
They purchase books on wealth, reading them with the belief that they are acquiring knowledge to become rich, only to fail in implementing that knowledge. They attend seminars, workshops, and conferences, absorbing valuable insights, only to return home and forget everything they learned.
Becoming a millionaire is not about adhering to simple patterns or imitating someone else’s routine. It’s about comprehending how to generate income, preserve it, and facilitate its growth.
Instead of fixating on trivialities that lack significant impact, concentrate on actions that truly matter. Discover new ways to increase your income, enhance your skills and knowledge to negotiate better compensation, and research well and then invest an amount that aligns with your comfort level without sacrificing your lifestyle.
Always remember one thing; achieving millionaire status is simpler than you think, but it demands hard work, dedication, and a willingness to learn and grow. and doing these consistently. So, don’t limit yourself to reading books or attending seminars; take action, implement what you learn, and remain steadfast in pursuing your goals.
Have a Happy Life.!
