If you are ambitious and truly want to be rich, you would have considered when you will get your first $1,000,000. To me, being a millionaire in dollars is the first step towards being Rich and having true financial freedom.
If you watch the News, you will think a million dollars is a small sum but just do the maths. How much do you earn in a month? And from your earnings, how much can you keep?. It is only those who have learnt to multiply money that can readily achieve this feat.
I am a Nigerian and I will relate $1,000,000 to my country's currency which is about #365,000,000 Naira.
You can get a good house in Abuja or Lagos the two major cities in Nigeria for #40,000,000 Naira.
You could get 2 good cars and change your wardrobe for #25,000,000. That still leaves you with a whooping #300,000,000. If you invest that sum with any reputable bank, you will get about #3,000,000 per month. Less than 0.001 percent of the Nigerian population earns that in a month.
The minimum wage in the country is #18,000 Naira per month which is about $50 and those with the best of Jobs earns $1000 or #360,000 Naira per month. If you assume they save all their income which is practically impossible; it will take the big shot 100 years to make a million dollars. So the only way to have a million dollars is learning to multiply money.
In the world today, the middle class earns $50,000 per year. The top 25% earns $90,000 a year. The top 10% earns $140,000. The top 5% earns $190,000. The top 1% earns $380,000 and above a year. We have approximately 7.5 billion people in the world and the amount of millionaires in dollars as at 2017 is 16.5million millionaires. That is why the rich says it is lonely at the top. This number is just 0.0022% of the world population. Don't get discouraged with this statistics. You can be among the 0.0022%. Statistics also tell us that this are mostly first generation millionaires. This people moved from zero to millionaire status.
The first step is to think BIG. You have to believe it is possible. One book I will recommend you read to achieve this think big mindset is "Think and grow rich" by Napoleon Hills. The next step is to create a plan. Know how to set realistic goals and deadlines will help you at this point. Making millions is all about maths. You have to know the maths that will enable you become a millionaire at a specific time. One thing I have learnt about goals is that they may not be achieve at your set time but don't be discourage especially if you are moving forward because even if you takes you 3 times as much to achieve your goals I bet you that you will be just as happy.
To be a millionaire, you need to master the act of earning money, keeping money and multiplying money.
Wow