The quickest way to become a millionaire is to get a high paying job and saving a portion of that income for retirement or future use. If you can't get the top jobs or create a start-up that can be sold then you can still become a millionaire it will just take more work. It is still possible as this story or this one and the most recent story of a gas station attendant who accumulated an eight million dollar fortune over his life can attest. We as humans are always so surprised when the person next door who lives prudently has more money than we do especially if their income is lower than ours. We wonder if they inherited it or they must have a second job. It really is most likely just a simple idea of saving money.
I'm fascinated with these stories because it shows that with patience and hard work you can move yourself from a lower class to a higher class. It does not happen for everybody yet it is attainable.
The media also likes these secret millionaires because we as consumers like to hear about them. It plays to our desires and wants.
All of these individuals have made good stock picks or investment choices. It was not by picking investments though that they were able to amass fortunes. The real change here is that with each increase in wealth they did not spend the new wealth but kept the same lifestyle. Not changing the lifestyle even if you could technically afford it means that you can use profits and the same money to grow your money even more. It is difficult to predict the future and to live frugally allows a person to accumulate wealth and be able to maintain the current lifestyle in case of job loss or other event. If each time you had new wealth and changed your lifestyle you would erase all the gains.
Living frugally is not the easiest choice and at times I do not take the frugal path. Yet if I want to amass a fortune too maybe I should start living more frugally and that should be a choice as wise investors also choose. It can be done and let's take the advice of their lives.
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