How to Become a Millionaire - Follow What Millionaires Do

The Millioinaire Fast Lane by MJ Demarco https://amzn.to/2D06j19

Think & Grow Rich by Napoleon Hill
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Millionaire Behaviors

1.Education is important, with 84 percent of millionaires having a college degree according to Spectrem

1. From another Spectrem study, on a 100 point scale, millionaires rated the importance of having a regular saving program at 82, reflecting their strong belief of its importance to their wealth

2. One in three funded their own college education without debt

3. Fidelity’s Millionaire Outlook Survey showed 86% of millionaires said they made their own wealth, they didn’t inherit it

4. On average, it takes a millionaire 32 years to hit the $1,000,000 mark, dispelling the notion that most get rich quick from a windfall

5. In fact, the same study showed that 80 percent of current millionaires didn’t reach $1,000,000 until at least 50 years old

6. Research conducted by Thomas Corley of Rich Habits, showed that 86 percent of wealthy people who work full time put in 50 hours or more each week at their career

7. Further, 67 percent of wealthy people watch less than one hour of television daily, and 63 percent spend less than one hour daily surfing the internet

8. Next, desire matters as Corley found that 53 percent of self-made millionaires were obsessed with become rich before they were rich

9. Also, Corley’s research showed that millionaires often pursue multiple streams of income, with 65 percent having at least three streams, thereby diversifying their dependence on any one stream

10. Finally, 88 percent of self-made millionaires read at least 30 minutes every day, focused on self education

11. Millionaires also take good care of their health, with 76 percent exercising 4 days a week

12. 86 percent are married, including 65 percent in their first marriage according to US Trust’s Insights on Wealth and Worth

13. The 2016 study also showed that 78 percent started out as middle class or poor, only 22 percent grew up in the upper class

14. Finally, many grew up in disciplined environments, with 76 percent citing that academic achievement was emphasized, and 68 percent saying financial discipline was emphasized

15. A study by the Harris Group, titled Survey of Affluence and Wealth, showed that respondents save an average of 23 percent of their income

16. Also, 87 percent of respondents said they succeeded in making their household more fiscally responsible during last recession

17. 62 percent of millionaires rely on a financial planner to help them manage their wealth, according to Fidelity’s Millionaire Outlook study

18. Millionaires have significant equity in their homes, as on average, their mortgage is less than one third of their home’s value, according to research performed by Thomas Stanely for his book The Millionaire Next Door.

19. Stanely’s research also showed that the average millionaire goes bankrupt 3.5 times before they eventually succeed

20. Further, only 20 percent are actually retired, meaning 80 percent still work

21. Next, 66 percent of millionaires own their own business

22. The Millionaire Next Door cites that the percentage of first generation millionaires is 80 percent, dispelling the idea that most millionaires just inherit their money from a prior generation