It’s SHOCKING How Easy It Is to Become a Millionaire
Dr. Brad Klontz
Financial Psychologist | National Bestselling Author | 150M+ Video Views | Professor | CFP?
I still can’t believe how easy it is to become a millionaire. It only takes $5 a day, and I wish someone had told me sooner. I could blame my parents for not sharing this simple secret with me, but they’d probably just blame my grandparents for not sharing it with them. To be fair, while it is indeed easy, it can be a difficult concept to grasp because our brains struggle with the math involved. It goes beyond simple interest and multiplication, which can be hard for us to visualize. But the math isn’t the real issue.
The BIG problem is our general inability to visualize and plan for the future – especially the long-term. We are wired to focus on the present, which is crucial, but an exclusive focus on the here-and-now is a recipe for financial failure.
Regardless of these challenges, a simple mindset hack early in life makes it almost impossible not to become a millionaire – regardless of your profession or income level. If you invested just $5 a day and got average market returns, you’d be a millionaire in 42 years. If you want more or want to hit that goal faster, just invest $6 a day or more. Automate these investments so you don’t forget to make your monthly, quarterly, or annual contributions – however you decide to do it. This is easy to do. You’d also need to control your self-destructive tendencies and not withdraw your investments for something foolish, but that’s another story altogether.
If you’re getting a late start, you’re not alone. Take small steps until you can save and invest more, but it’s important to get started today. Also, make sure to spread the word to the people you care about so they can get started as soon as possible.
领英推荐
You've got this!
Dr. Brad Klontz
P.S. If you pre-order my new book, Start Thinking Rich, you'll get complimentary access to my Start Thinking Rich Community and upcoming Masterclass (a $4,997 value). Here's the link to learn more: https://startthinkingrich.com/bgroup
Personal Finance Expert/Money Coach | Tax Resolution Specialist ~ Sleep Better at Night? | IRS Enrolled Agent | Author | Speaker | On-Air Radio Host of "Dollars & $ense"? With Kristine
3 个月Could not agree more. Just joined the ranks of everyday millionaires recently, but the hard way, not the invest $5/day way. Your way’s better!
Self Employed at Heart In Diamond New Zealand
3 个月That is very good