11 THINGS TO DO TO BECOME a Millionaire

11 THINGS TO DO TO BECOME a Millionaire 


 1. Running a business - Tax advantages over a job - Consume, Catalog ideas and start somewhere - It may also lead to fulfillment in life   

 2. Delayed Gratification - The ‘Marshmallow’ experiment is a proof that people, who are ready to sacrifice something in present for a better future, do better compared to others - The millionaires are ready to delay gratification to achieve something in life.

 3. Contrarian with Money - Try to apply Warrant Buffet’s advice “Be greedy when everyone is fearful, and fearful when everyone is greedy” not only Stock Markets but in life as well as appropriately - The people who have guts to go against crowd, are the most successful ones .

 4. Managing Risk - Take calculated bets - Risk taking is given in the process of becoming a millionaire - Learn to manage financial risk, career risk or any risk in life.

5. Bruce Lee’s advice - “I fear not the man who has practiced 10000 kicks once, but one who has practiced 1 kick 10000 times” - Start practicing in a focused manner - Don’t fall for vanity matrix aka falling for quantity instead of quality.

  6. Consistent compounding - Improve 1% everyday to become 3700% better in a year - Focus on skills you want to improve with consistency - Compounding money or skills reap multi-folded returns in life! 

 7. First principle thinking - Think Long Term - Classic example of Jeff Bezos’s advice on ‘which consumer trends will never go away’ - Common Sensical approach to life/business with a vision helps a lot   

8. 12-hour workday - In your 20s, try to work as hard as you can to learn, get skilled and later use all that to get some of that time back - At young age we have more mental, physical, and psychological abilities and we use that properly it will eventually help to get a work life balance.

 9. Understand Tech - Everything that can be digitized, is getting digitized - Non-tech people are expected to know tech at least basic - Blockchain/AI are massive money-making opportunities to grab.
 
10. Understand Taxes - We all ought to do it as Taxes are biggest part of our total expenditure - Utilize any & every opportunity to optimize Taxes. 

11. Be Optimistic & Collaborative - Believe & Become - You should be so busy in working towards your goal that you don’t find time to invest in any negativity - Learn good things from other and grow together 

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