Some people are anxious to be millionaires, but unable to reach that goal! This is due to lack of self-determination and confidence on themselves.
But to be millionaire, one must develop some good habits as a part of their routine life. Then only, they can achieve that goal! One must not be greedy to earn huge corpus as investments takes its own time to reap the benefits.
One must not loose confidence in this wealth creation journey. He must be patient like a farmer sow seeds and reap the fruits of the crop in the latter years. What if the farmer didn’t water the plant thinking that the plant is not growing and lose patience; obviously the plant would die! Likewise we should never drop-out our confidence and patience in the process of wealth creation.
To be successful wealth creator, follow these simple steps which would guide you in reaching your goal-
- Assess your current financial position– Before setting a goal to be a millionaire, set SMART(Specific, Measurable,Achievable,Realistic and Time-Bound)goals. That goals should be specific and realistic. Don’t set unrealistic goals as it would lead to be greedy
- Determine when you want to achieve that goal– After setting the goal, determine your time-period to reach that goal. Set Realistic time period based on your risk-taking ability and decide when you want to achieve that goal.
- Access action-plan to achieve that goal-After setting the goal and determining the time period, prepare action plan to achieve your target. Analyse various investment options and identify suitable investments as per your risk appetite.If you are unfamiliar in doing so, take help of experts in that field.
- Focus on your Strengths– Identify your strengths and try to focus to implement them at the earliest. At the same time, ignore your weakness by giving priority to implementing your strengths in the best possible way. Slowly try to convert your weakness into strengths and aim to achieve your goal by implementing them
- Always keep good company– There is a saying – “A Man is known by the company he keeps”. That means, if you maintain good friends, you will develop good financial habits. In case you have negative minded friends, your financial thoughts would be impacted like that. So choose good friends who are similar to your attitude
- Be Positive always-There may be some testing times in your wealth creation journey and you must be prepared for this! Don’t loose confidence and patience and try to be positive at all times.
- Spend More Time on your goals– Though you are busy with your work-schedule, never neglect your goal to be a millionaire. Spare some time to reach that goal. You must be clear of that goal and the time period to achieve that goal which would motivate to focus on your goal.
There is a mis-conception, being a millionaire is possible to some body only, but if you are financially disciplined, focused on your goal and have burning desire to reach that goal, you will definitely become a millionaire!