Formula For Millionaires Blog

I am amazed, by the coincidences in my life; the way things align and come together to put me right where I am supposed to be; freedom, happiness, and money.  Most people’s net worth took a nose dive during the last 12 month.  And my guess is the hit took its toll on the middle and upper middle class more than anyone else; maybe worst of all on the baby boomers who had most of their life savings tied up in paper assets like stocks, bonds, and mutual funds.

If you want to hear my perspective on that subject listen to me talk on a New York Podcast online Tuesday March 24 at 7PM EST at www.YourMoneyShow.com. I’ll share how so many people could have prevented losing their fortunes and how they can still build wealth once again, if they just do three things.

Fortunately I was already using my Formula For Millionaire’s process and am glad to look back over the last 12 months and say that my net worth has increased by 7 digits and even more than any other previous year in my life.  Isn’t that the way it should be?  Shouldn’t we be increasing our knowledge, our abilities and our wealth with each new year of our life?  And shouldn’t we be the ones in control of our life and our finances?  Why would we ever put it in the hands of the economy, or our employer, or the government? That would  be insane! Yet that is what most people do. Why?

If you’ve read some of my other posts about the tough times in the economy and how to turn it around, you’ll realize that everyone has the same money problems from time to time.  The only difference with millionaires, is that when they go broke, they go big time broke.  When you wonder how to pay that $2,500 bill in two weeks that you don’t have money to pay, I’ve sometimes wondered how to pay that $45,000 monthly bill that I have no money to pay this month or each of the months after that.

Some people love to play the money game. I happen to be one of those people. I love to figure out what I want to do next that is challenging, something I love to do, something that will help meet people’s needs and something that I can make millions of dollars doing in a short amount of time.  Other people don’t like the money game.

But, here’s the problem with not liking the money game.  Whether you like the money game or not, You are playing it.  Everyone has to play.  Money is the gas by which life is lived.  You cannot live without money and you cannot be fulfilled and completely happy unless you know how to access all the money you want, in order to live the fulfilling life you were meant to live.  Don’t get me wrong, it’s not the money that makes you happy, it’s what money allows you to do that makes you fulfilled in life.

Surprisingly, Because They Decided to Become One

Everyone starts out in life not knowing what is possible, until you are shown some options.Growing up we learn what is possible, we accept it and soon it becomes normal as part of our life. As a teenager soon having to face the decisions about what to do after high school, my Dad shared with me all he knew about the options the world had to offer me.

When I was 17 years old my Dad told me I had two choices.After high school I could get a job doing manual labor and if I was lucky I could work for a union for good wages. The second option I had was to get a desk job working in an office, but, if I wanted a desk job then I should go to college to get a degree.

My Dad had no preferences for me and left the decision completely up to me. He had started college in the late 1950’s but dropped out soon because he was not the student type. By chance when my Dad was 20 years old his uncle got him a job with the power company for his small rural town, where my Dad worked for the next 42 years until he retired. He worked primarily inside at a desk job but he saw that some of the union workers who worked outside on the power lines got higher wages than he. He shared with me these options pointing that both jobs had good benefits and both could offer similar wages. But, one would require more schooling.

That was the extent of the conversation my Dad had with me when I was 17 years old; except he added that if I chose to go to college I would have to figure out how to pay my way because he and my Mom did not have the money to help out with college.

We see TV celebrities making a million dollars per episode, and then flying around in private jets, living in 25 million dollar homes in Hawaii, and a having fancy homes in a dozen other places.  We see 16 year old technology geeks becoming a multi millionaire before they graduate from High School.  We see infomercials of people telling us we can buy homes for $137.13 and sell it the next day for $747,000, and within a couple days do it five more times and become a half billionaire.

Do we believe it all? And even for the part we believe, do we think those people got lucky or did they actually do hard work enough to deserve exactly what they got. These are questions I’ve asked myself for most of my adult life.  I’ve had the opportunity to work with hundreds of multi millionaires over the course of many years. In other words I stayed in close touch with most of them for many years, so I became their friends or close business associate.  During that time I found that for most who become rich, their wealth came about because they consistently applied a formula to their life.  It is what I discovered and later packaged into what I call my 7-Step Formula For Becoming A Millionaire.  I applied it to my own life and became owner of my own multi-million dollar company when I was 27 years old, was CEO by 29 and lived comfortably for the next ten years in that position before walking away from it all in order to move to a much higher level of freedom and wealth outside of what any job can offer.