Going Anon here since most people do not know that I’m a millionaire (x) 2. In fact, nobody knows. My kids ask and I just avoid answering.
Buying real estate at the right time has added a lot to my net worth. Please reread….”right time” is critical. Chasing the peak is a good way to lose it all.
Learn and understand the markets. Develop an investing style that is contrarian in nature. You need to buy when a specific asset/stock looks like a dog and sell when it is a race horse. Buying large companies like CAT and CVX when they were hated offers you a nice dividend while the stock recovers.
Delayed gratification. Skip the boat the RV and save like crazy. Want a Ferrari to impress people? Not a good road map until you have the net worth to support it.
Avoid the flash. A smart person can identify a person who dresses to impress people and always flashes the maxed out credit card. Most days I wear shorts, T-Shirts and tennis shoes. I sold my Rolex because I can always look at my smart phone. You say Rolex Mr. Flash? I bought it used at a garage sale for 1,000.00 and sold it for 4,000.00. Purchase when the deal is in front of you.
Start a full time or side business. Side businesses are great ways to drive your net worth.
Find a mentor……. if they will admit they are a millionaire.
Work harder than other people. Success rarely comes easy. Not many lottery
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