10 Things Millionaires Do That You Can Too

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    13-Apr-2017

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  • 10 Things Millionaires Do

    That you can do too

  • In h i s 1996 bes tse l le r , The Mi l l iona i re Next Door , Thomas S tan ley deta i led the t ra i t s o f

    the average mi l l iona i re . Not the average r i ch person the average mi l l iona i re . These a re peop le who have a net wor th over seven

    f i gures who are a l so f inanc ia l l y f ree .

  • #1 Job Stabil ity

    Millionaires tend to stay with one employer for a very long time

    sometimes 30 or 40 years. Being a company man or woman can offer

    huge rewards, including a very nice ending salary and hefty 401K

    balances.

  • #2 Steady Saving

    As of 2015 you can save $18,000 in a 401k or 403b, and $24,000 if you are

    over the age of 50. That doesnt include your companys free match if

    they offer one.

  • Ive rarely met a rich retiree who didnt start making the maximum

    contribution to a 401k in their 20s or 30s.

    -Wes Mossa u t h o r o f

    Y o u C a n R e t i r e S o o n e r T h a n Y o u T h i n k

  • #3 Save The Raise

    One trick is saving at least half their pay raises. Instead of putting the money towards a new boat or vacation, those added dollars end

    up in retirement or brokerage accounts.

  • #4 Invest

    Millionaires who own stocks tend to hold their investments for decades

    (not just years). They let their dividends re-invest over time and thus

    participate in the long-term growth of our economy. This makes them

    investors rather than savers who only invest in CDs or money markets.

  • #5 Owners

    Business owners, partners and other employees who are fully vested in a

    company tend to end up with substantial savings.

  • #6 No Mortgage

    O n e k e y r i c h p e r s o n m o v e i s t o g e t r i d o f t h e

    m o r t g a g e b y a g e 6 5 . T h i s m a y t a k e t w o o r t h r e e e x t r a p a y m e n t s

    p e r y e a r .

  • #7 No Fancy Toys

    Very few millionaires own BMWs, Mercedes, $3,000 watches, or $5,000 suits. Nearly 40% of the rich buy their cars used.

  • #8 Credit

    The better your FICO score, the lower the interest rates you will pay on your mortgage and car

    loans. The rich do this by carrying low debt loads.

  • Rich people dont buy lottery tickets. Its a fact. Ive never seen a millionaire

    buy a lottery ticket, and Ive never met anyone who won the lottery and still had the money three years later.

    -Wes Mossa u t h o r o f

    Y o u C a n R e t i r e S o o n e r T h a n Y o u T h i n k

    #9 No Lottery

  • #10 Own Real Estate

    They bought homes that were not overly priced or extravagant in

    rentable areas. They would maintain them appropriately, rent them out consistently. They paid down their

    mortgages and ended up with cash-flowing assets that built their net

    worth slowly over 30 years.

  • A n a v e r a g e i n c o m e , c a r e f u l l y m a n a g e d , c a n g e n e r a t e c o n s i d e r a b l e w e a l t h o v e r a p e r i o d o f t i m e . T o b o r r o w

    a l i n e f r o m r a d i o s D a v e R a m s e y , L i v e l i k e n o o n e e l s e t o d a y , a n d o n e d a y y o u l l b e a b l e t o l i v e l i k e n o

    o n e e l s e .

    The Lesson

  • Thats why thousands of people are managing their full financial

    picture on the Wela platform

    Wela leverages technology to give financial advice with a

    human touch.

    And you can too

    Just click here.

    https://getwela.com/?utm_source=slideshare&utm_medium=millionaire&utm_campaign=content