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Thursday, July 16, 2009

The Virtues on How to Become a Millionaire

By Mitchell Derosa

If you find your financial life boring, you can break the monotony by having new ideas and methods. Apart from this, persistence and patience always get good rewards.

Life cannot be exciting every minute of every day; in fact, if there's no period of downtime to compare to, nothing can be exciting at all. If the entire focus of your life is on becoming wealthy, you can sap all the other pleasures out of life. While everyone may want to be wealthier, we want to be wealthier for the items and experiences that wealth symbolizes -- not just to see an extra digit on our bank statement. The continual pursuit of wealth leads to destructive and risky behaviors, like gambling and black market dealings. Or you might find yourself so discouraged by your relentless pursuit of wealth that you squander money on meaningless entertainment to try to make yourself feel better. Wealth should be the earned reward of hard work; and the harder you worked for wealth, the more rewarding the experience will be for you.

No one becomes a millionaire by snapping their fingers; it requires dedication, time, and patience. In order to make your first million, you'll need sound financial advice and a strong work ethic, and you need to pursue honest and sensical means of increasing wealth. If it sounds too good to be true, it likely is, and then you'll have wasted energies you could have invested elsewhere.

Working hard is not always enough to be a millionaire; you have to work hard at smart things. Otherwise, many of the world's poorest people, who work very long hours, would be millionaires already, and they clearly are not. In other words, you need to work hard at endeavors that will eventually make you money even while you are not present and working (otherwise known as passive income).

It's easy to be jealous of people who come into a large sum of money quickly, whether it be through the lottery, an inheritance, or an extremely lucky stint at a casino. However, it's important to keep in mind that wealth you did not work for is very different from a million dollars that you saved and strived towards. If you've put your heart and soul into the pursuit of your first million, you will treasure it; if it comes into your life with no effort, it will effortlessly float out of your life, too. Plus, overnight wealth offers no promise of future wealth -- the chances of a second surprise winning are basically non-existent, so once the initial money is spent, it's gone forever. Contrast this with money you earn for yourself -- the work ethic you cultivated will serve to bring more money in for the rest of your life.

Another way to become a millionaire is a hard, patient work. It takes quite a long time before you get your first million, and there's a good opportunity you may not been able to make it, most of all with the way the economy is doing these days. One important thing to remember is not to give up; there are lots of millionaires in the world today, and there are no excuses why you should not be one of them. If you plan to be wealthy, you should be wealthy in from the virtues that make money: persistence, perseverance and patience. Always put in mind to focus and concentrate on your goals. You will surely run into a few road corners well into your way for your first million to appear beyond any of your good expectations. With the right financial decisions and hard work and perseverance, that million could be surely be yours. - 23221

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