The Million dollar mark. 7 Figures.
For so many this number holds such significance and really shows that one has ‘made it’ in life. Whether you agree with this or not, you must agree chasing down a million dollars is a daunting task.
Let’s break down how you can do it
1.) Develop multiple streams of income.
The average millionaire has 7 streams of income.
Figure out ways to create more streams of income one at a time.
Invest, create a side hustle business, or get a second job, the list goes on with ways to develop more income streams you just need to execute.
2.) Get your goals straight
No journey is ready to start without having goals in mind.
Have the big picture in mind but set mini goals along the way to let yourself know your progressing in the right direction. Create a journal where you can write down daily, weekly, and monthly goals.
3.) Save to invest, don’t just save to save
If your money is sitting in the bank it can’t be growing.
With current inflation rates your money is actually decreasing in value by sitting in the bank, don’t abandon your safety net but start to look for other places to store your money where it can grow for you without you having to work such as mutual funds.
4.) Hangout with people you admire
I’m sure you’ve heard the saying, “you become the five people you hangout with the most” and this seems to be very accurate.
Take into account who you spend your time with and what they’re doing with their lives, are they pushing you to become better? If you hangout with people who are doing better than you it forces you to mentally elevate yourself and take your work ethic to the next level.
5.) Shoot for 10 million not 1 million
By shooting for higher numbers such as $10 million even if you have to settle then you’ll be settling for $1 million, now if you shoot for $1 million and everything doesn’t go according to plan (which is likely) you’ll be settling for $500,000 or even $300,000