7 Paths to Becoming a Millionaire

7 Paths to Becoming a Millionaire

Occasionally, I come across something so profound that it is hard to argue against. Sometimes the truth stares us in the face, but we find an emotional reason to argue against the facts. Rarely are we confronted with a concise case of what’s possible. Luckily, I came across just such a powerful message the other day on 7 Paths to Becoming a Millionaire.

Oh, and these are paths that real people took in the last few years to become ACTUAL millionaires, not just the superfluous suggestions such as, “save to invest, not save to save.”

First off, becoming a millionaire in today’s world is essential. With the rate of inflation, we will all become millionaires at some point in our lives. The only question is, how soon?

Money is absolutely important, BUT it is only a means to expanding our capacity to contribute. Financial Independence is a route towards happiness because it is a route away from all the financial turmoil we currently endure.

On a long enough timeline (you read that in the voice of The Narrator), everyone will hate their current role in life and so we need to continue to grow. Pursuing financial independence at an early age gives us a strong foundation to take greater risks and pursue bolder accomplishments.

Living paycheck to paycheck is NOT something we want to go back to.

ALL 7 paths were achieved by people who are out in the public eye. They share their story and they provided real time updates on their path. (Thank you, Almighty Age of the Internets!)

For all, it took less than 10 years. If you’re thinking 10 years is too long and that you’ll need to find a faster route, then I encourage you to set yourself up for a 10 year plan FIRST, and then try to trim the fat along your path. Don’t fall into a trap of analysis by paralysis (LINK) and spend years falling for get-quick-rich-schemes.

7 Paths to Becoming a Millionaire

 

In case you missed it, I linked to the 7 paths in the line above.

BIG PROPS to Northern Expenditure for putting together a KILLER piece. Also, a big THANK YOU to Sam from Financial Samurai who mentioned the post on Twitter (where I discovered it).

Speaking of Twitter, I’m trying a different approach where I share more of the articles you love. If you find something interesting OR if you wrote something yourself then simply message me on Twitter with the link. I’m aiming to create a sort of “retweet Tuesday/Thursday,” thing and I need more links. 🙂

Are you pursuing financial independence with, “Becoming a millionaire,” as the target? Is multi-millionaire your target? How fast are you looking to go from zero to millionaire?

-Matt

P.S. Have you checked out my brand new Facebook page? I literally just launched it so check it out and let me know what you think.

9 comments… add one
  • Jay Nov 30, 2016, 7:03 am

    Thanks for turning me on to this article, Matt. I always enjoy reading financial success stories from people who have actually done it!

    • Distilled Dollar Dec 1, 2016, 7:40 pm

      I’m glad you liked in Jay. Happy to spread the message, especially when it is so well put together!

  • Mrs. Picky Pincher Nov 30, 2016, 8:09 am

    I do think it’s possible for most people to become millionaires within their lifetime. But it does take an awful lot of discipline and lifestyle changes. We used to live paycheck to paycheck and it was a real struggle–I think that’s the boat most people are in, and they assume it’s just not possible to build real net worth. But if you cut spending drastically, eliminate debt, invest, and increase your income, it’s really doable.

    • Distilled Dollar Dec 1, 2016, 7:42 pm

      Having that one belief goes a long way. If we believe it is impossible then it destroys motivation and it becomes nearly impossible to work on it every week.

      It sounds like we travelled a similar path so far! 🙂

  • droppedcoin Nov 30, 2016, 4:50 pm

    Thanks for letting us in on this. I happen to think it is quite easy to reach millionaire status, but that most people don’t have the patience! As I recently tweeted, Buffett said no matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant!

    • Distilled Dollar Dec 1, 2016, 7:43 pm

      I’m a huge fan of Warren and more so of his partner, Charlie. Thanks for the reminder of the great quote!

  • Jon @ Be Net Worthy Nov 30, 2016, 7:26 pm

    It’s all about starting early. For me, it’s about getting to multi-millionaire within the next 10 years and hopefully sooner. With two high-school aged kids and college coming up, it is not a layup.

    • Distilled Dollar Dec 1, 2016, 7:45 pm

      You have some big headwinds but from what I can tell from your site, you’ve built up a tremendous amount of positive habits to help you out. Plus, you’re well positioned in terms of your career. I’m looking forward to seeing that, “We’re Multi-Millioniares!” post!

  • Mustard Seed Money Dec 1, 2016, 8:23 pm

    I think we’ll be millionaires in the next four years and then I think we’ll be multi millionaires about five years later. Unless the market completely tanks.

    BTW…Maggie does such a fantastic job over on her site…big props to her having Sam tweet our her story.

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