How Can You Become A Millionaire?
The first step is to start investing: more than 60% of the United States even millionaires. First step They have not yet made their way. Everyone has no reason, but actually I am just looking for an excuse. No money to invest: Carlson suggested that I immediately force myself to spend 10% to 25% of his income on investment. There is no time to invest: why not immediately reduce the time to watch TV, spend energy on studying investment and financial knowledge, and worry about the high share price: don't forget, the stock price will never be new.
The second step is to set goals: that.
target
Whether it is to prepare a child's girl's school fees, buy a new house, or retire before the age of 50, any goal can be achieved, but we must set a goal and do it wholeheartedly.
The third step is to spend money on stocks or stock funds: "buying stocks can become rich, and buying government bonds can only keep wealth".
The millionaire's common experience is: don't believe in gold, treasure, collectibles, etc.
thing
Son, putting your heart on stocks is the beginning of wealth building.
In terms of long-term trend, the average annual return of stocks is 11%, while government bonds are slightly higher than 5%.
If you invest $1000 in 1925 to buy stocks and not $2 million 350 thousand in 1998, the reason for buying stocks is obvious.
The fourth step is not to be too ambitious: millionaires are not rich because they invest in high-risk stocks. They invest in general bad stocks.
Fifth step, monthly fixed investment: investment must become a habit and become a monthly homework. No matter how small the amount of investment is, it is necessary to make fixed investment every month so that you can surpass the people above 2/3 in the United States, because they will never spend until they are old enough to think about investment.
The sixth step is to buy stocks for long periods of time: surveys show that 3/4 millionaires buy stocks for at least five years.
The stock buys and sells too many times, not only takes risks, but also needs to receive high capital gains tax, paction fees, brokerage commission and so on. "The more you buy, the less you will become rich."
The seventh step is to use the IRS as an investment partner. It is not a constructive thinking to loathe the IRS. It is the opposite way to make the IRS an investment partner of the cost man, pay attention to the new tax regulations, make good use of the tax free investment and financial tools, and make the IRS a rich helper.
The eighth step is to limit financial risk: millionaires' lives are mostly boring. They do not like to change jobs, marry only once, do not have a bunch of children, usually do not move, buy stocks for more than five years, life is not too much or unexpected, and stability is their common feature.
Perseverance, insisting on the above eight steps, will eventually become a millionaire.
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