Self Made Millionaries - Common Stories Of Success

**Lambo** · 05-26-2010 07:57 PM

http://michaeldmiller.files.wordpres...frugal-pic.jpg

By Kristyn Kusek Lewis

They’re just like you. But with lots of money.

When you think “millionaire,” what image comes to mind? For many of us, it’s a flashy Wall Street banker type who flies a private jet, collects cars and lives the kind of decadent lifestyle that would make Donald Trump proud.

But many modern millionaires live in middle-class neighborhoods, work full-time and shop in discount stores like the rest of us. What motivates them isn’t material possessions but the choices that money can bring: “For the rich, it’s not about getting more stuff. It’s about having the freedom to make almost any decision you want,” says T. Harv Eker, author of Secrets of the Millionaire Mind. Wealth means you can send your child to any school or quit a job you don’t like.

According to the Spectrem Wealth Study, an annual survey of America’s wealthy, there are more people living the good life than ever before—the number of millionaires nearly doubled in the last decade. And the rich are getting richer. To make it onto the Forbes 400 list of the richest Americans, a mere billionaire no longer makes the cut. This year you needed a net worth of at least $1.3 billion.

If more people are getting richer than ever, why shouldn’t you be one of them? Here, five people who have at least a million dollars in liquid assets share the secrets that helped them get there.

1. Set your sights on where you’re going

Twenty years ago, Jeff Harris hardly seemed on the road to wealth. He was a college dropout who struggled to support his wife, DeAnn, and three kids, working as a grocery store clerk and at a junkyard where he melted scrap metal alongside convicts. “At times we were so broke that we washed our clothes in the bathtub because we couldn’t afford the Laundromat.” Now he’s a 49-year-old investment advisor and multimillionaire in York, South Carolina.

There was one big reason Jeff pulled ahead of the pack: He always knew he’d be rich. The reality is that 80 percent of Americans worth at least $5 million grew up in middle-class or lesser households, just like Jeff.

Wanting to be wealthy is a crucial first step. Says Eker, “The biggest obstacle to wealth is fear. People are afraid to think big, but if you think small, you’ll only achieve small things.”

It all started for Jeff when he met a stockbroker at a Christmas party. “Talking to him, it felt like discovering fire,” he says. “I started reading books about investing during my breaks at the grocery store, and I began putting $25 a month in a mutual fund.” Next he taught a class at a local community college on investing. His students became his first clients, which led to his investment practice. “There were lots of struggles,” says Jeff, “but what got me through it was believing with all my heart that I would succeed.”

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**kbouw** · 05-26-2010 08:10 PM

Great Read Lambo! +1

**ciaossu** · 05-26-2010 10:42 PM

I agree that the average millionaire next door is the frugal unsuspecting type but there are plenty of millionaires/billionaires out there who have plenty of cash to burn if they wanted to without being frugal. I think it's a lifestyle choice.

**Lambo** · 05-27-2010 09:16 PM

its the freedom that they are chasing...not the money....im in the same boat

**Carlos™** · 05-27-2010 09:36 PM

Freedom chaser here, too. I'm thinking big, but in this economy, its a little discouraging.

Life has its ups and down. I've been going through hard times through the last 4 years now.

I'm in need of good news. I mean, really good news.

**ciaossu** · 05-27-2010 11:37 PM

The long standing argument has always been freedom but in reality, seldom really seek freedom. You don't really retire. For most people, the real definition of retire is simply having enough money to not worry about financial woes but as far as work goes, you can't really ever stop doing anything because you'll eventually get bored.

Most people talk about traveling the world, few do even with the money they have. Many tie themselves down with material goods (house, car, etc). One of my buddies traveled the world for 1.5 years while living off unemployment and I think he traveled to over 10 countries. He was only getting about $1200/month in unemployment I think. The reality is, depending on where you're traveling, sometimes the travel and living cost to freely roam the parts of the globe is less than what many pay in rent to live in the US or Canada.

Then there's the other argument that for some its the freedom to do what they want when they want but how many people actually can't do that now. You do entrepreneurship because you're passionate about it (or should be). You technically can set up an online business and be everywhere (my friend proved that much with his super limited budget). Freedom therefore is a very subjective term. Just what freedom is it that people think they're seeking that they don't already have? At the end of the day, money does bring more freedom but it's beyond just the freedom. I doubt that's the ONLY argument here.

In my opinion, I like having the freedom but let's be honest, it's almost a given. There's gotta be more to it than that for the rest of you as well, and it sure isn't just money. At some point, every extra dollar you earn becomes irrelevant because you'll never spend it all even if you could find shit to burn money on.

**Justin901** · 01-26-2012 10:50 PM

Nice post. Two thumbs up

**FlawlessPlan417** · 02-02-2012 11:30 AM

Nice read indeed *Thumbs up* from me

**Museboxx** · 02-02-2012 01:45 PM

There are more than 10 Million Millionaires world-wide. Millionaire status doesn't really mean anything any more. For most people, they can't quit their job with a million dollar net worth.

The real goal is to live like a millionaire and have multiple sources of passive income.

Although my website is Millionaire Mentors Access | Systems, strategies and ways of thinking and being from millionaire mentors., I meet a lot of millionaires who are just higher middle class people. It's the multimillionaires that really have the strategies, character traits and habits that are found among all HIGH performers.

**FlawlessPlan417** · 02-02-2012 03:13 PM

Originally Posted by Museboxx

There are more than 10 Million Millionaires world-wide. Millionaire status doesn't really mean anything any more. For most people, they can't quit their job with a million dollar net worth.

The real goal is to live like a millionaire and have multiple sources of passive income.

Although my website is Millionaire Mentors Access | Systems, strategies and ways of thinking and being from millionaire mentors., I meet a lot of millionaires who are just higher middle class people. It's the multimillionaires that really have the strategies, character traits and habits that are found among all HIGH performers.

I agree with this, Enough time spent in the right industry will eventually make you a millionaire.. I think it takes more strategy, certain character traits etc to make you a high performer like Museboxx said. I also agree for most its not about the money its about the freedom.. Freedom chaser here as well.

**urbandrinking** · 02-02-2012 04:32 PM

I wish I had the will power to spend like the people mentioned in your post. Unfortunately I have the habit of spending money I do not have and the regretting it almost straight away. Damn.

**Justin901** · 02-06-2012 10:47 AM

Can anyone tell me how I can write my own thread?

**FlawlessPlan417** · 02-06-2012 10:56 AM

Originally Posted by Justin901

Can anyone tell me how I can write my own thread?

When you know which area of the forums you want your thread i.e General Business, Social Entrepreneurs, Women entrepreneurs, Buying or Selling a Business etc click on it and at the top of the page there is a 'Post New Thread' button.

Hope that helps