“I want to be a millionaire. Just like my friend.”
“Is your friend a millionaire?”
“No, my friend also wants to be a millionaire.”
Become a Millionaire
It’s simply a web-based media PJ and unquestionably there’s no harm to become a millionaire. The more the better. Be that as it may, when you want to be a millionaire, it’s difficult to tell where to begin. Although we appear to have been socially adapted to believe that millionaires are routine phenomena they are not.
A million is a lot of money. That is not a joke, at least not entirely. The vast majority don’t have a vibe for how much it is. I mean they know mathematically however don’t have a FEEL for it.
Allow me to help out there. If you somehow managed to put away Rs 5,000/- per month from today, you could accumulate Rs 60,000/- every year. Pretty feasible for most people reading this, I would say. In any case, to turn into a millionaire at that rate would require over 1000 years. Big difference. You can criticize about acquiring interest, and so forth, but it’s still a big difference, it is highly unlikely to overlook that.
As an equity investor I know, most people who are called themselves millionaires these days are not millionaires, as in they have not earned a million and may not have the option to produce a usable amount of a million in any real sense. Some can, yet most can’t. By and large, they own a piece of some business whose market capitalization is more than a million and that is a notional amount of money.
Thus, this section is not tied in with making a million. The title of this article is completely false. I have no insight or mastery to bring to the table there and if you were sitting tight for certain tips and pointers, at that point you can stop reading now and google ‘millionaire jokes’ to entertain yourself. However, I think I do have something different that is in reality more valuable since it is achievable.
What I can do is to advise you – from the personal experience of many individuals I have interacted with – is that those who don’t get started have no chance of becoming any kind of ‘naire’. What’s more regrettable is that setting your objective too high can prevent you from getting started. When you hear this, it appears to be something bizarre to occur but it’s very much true. If you are planning to be a millionaire and all you can do is save to save Rs 5,000/ – a month, then it seems hopeless. You don’t have 1000 years to hang around waiting for the target to come near. However, setting a goal, one which is reachable and will therefore meaningfully change one’s life, is the best first step to take.
The millionaire might be a joke but unrealistic goals are a significant issue. Many goals feel kind of reachable but if you do the numbers realistically, then the chances are quite bad. For example, suppose you want to accumulate Rs 50 lakh in five years and need to do it by saving Rs 25,000-30,000 per month. You may believe it’s possible however it’s truly not. No practical consultant or even an online calculator will tell you that this is feasible. However, is that a discouragement? For some individuals, it is and becomes a reason to not get started.
Toward the day’s end, there can be a thousand reasons to do not start, and not having a sensible possibility of turning into a millionaire is just one of them. Then again, there are also a thousand reasons to get started. The decision is yours.