1. Millionaires work hard.
A lot of people think that winning the lottery is their ticket to success, but I’ve got bad news for you. Nearly 90 percent of lottery winners go through their winnings in five years or less, leaving them back in the same situation they were in before they won. Millionaires know that there are no shortcuts to success. There’s only hard work executed relentlessly in pursuit of a goal.
2. Millionaires are focused.
That said, it isn’t just about working hard. You have to be working hard on the right thing.
Have you ever known somebody who’s constantly jumping from one “million dollar idea” to another? We all want to be rich, but the people who can’t choose one path to focus on simply aren’t going to achieve it. It’s the people who dedicate themselves to a single pursuit that come out on top, whether that one path is penny stock trading, company building or something else.
3. Millionaires are careful about risk.
I happen to think that penny stock trading represents one of the best opportunities to build generational wealth. The barriers to entry are low and, if you follow the rules, your risk is relatively low.
But whatever wealth-building approach you take, you’ve got to keep your risk in check. It’s not that you shouldn’t take risks, but the risks you take should be calculated. One of the tools we use in trading is the
“risk-reward ratio” -- basically, how much risk you’re willing to take on for how much potential reward. You can apply this line of thinking to just about anything in your life. If there’s more risk than there is reward, stay away. But if there’s more potential for reward than there is risk of loss, you may be looking at a great opportunity you should take.
4. Millionaires are generous.
Take a lesson from generous billionaires Bill Gates, Warren
Buffett, Carl Icahn and Ken Langore. Giving money can feel
just as good (if not better) than earning it.
5. Millionaires never stop learning.
This is such a big one. Millionaires love to learn because they’re always looking for ways to expand their skill sets and get ahead in their fields. They read books, watch documentaries, study educational materials and talk to others who can give them more information. Millionaires know that knowledge is power, and they stop at nothing to get it. No matter what your net worth is right now, you can put this tip into practice today. If you’re learning to trade penny stocks, you can watch videos, read SEC statements, study stock charts or learn from others in industry chat rooms. You can do all of these things for free, but the value of what
you learn will be worth so much more in the long run. Which of these habits could you add to your life? Commit today to making at least one change that puts you on the path to becoming a millionaire.
2 comments:
Hmm . . exactly
Hmm . . exactly
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