How do you get to be a millionaire? The same way you get to Carnegie Hall – practice, practice, practice.
There are about 10.4 million Americans with a net worth in excess of $1 million – not counting the value of their house. While each one amassed his fortune in a different way, they share life-long habits that helped turn a great idea, stellar talent or high-paying job into long-term wealth.
Money magazine recently detailed 12 of those habits. Bottom line: Millionaires are very careful with their money, probably more careful than those of us with much less dough. Millionaires have been regular and aggressive savers from an early age. They know the value of hard work and invest prudently for the long-term. And, lord, do they know how to pinch a penny!
In my career as a financial planner, I’ve had numerous clients who built significant nest eggs during careers spent in important but modestly paid work, such as teaching. Those folks had many of the habits on this list. More proof that when it comes to wealth building your attitude towards money is at least as important as your income.
Do you have any of these habits? If not, you might want to think about adopting one or two – or 12.