How To Become a Millionaire

Sifting through my junk mail, I found two interesting items. The first was a coupon for a free Wendy's breakfast combo (woohoo!... and not the point of this blog entry) and a flyer from my credit card advertising million dollar giveaways.

Million dollar giveaways sounds so enticing and at the same time sound like a fake, cheesy promo. It did make me think, "What would I do with a million dollars?" Before I got too far in my fantasies, I had to google what others advised on how to become a millionaire.

After ten minutes of searching and reading, I thought the article below from wikihow was interesting. Of course the point isn't just to be rich, it is to have money to spend my time the way I want to spend my time as much as possible and comfortably. Some of the advice is general and obvious, but I did like the suggestion of going on a game show. That's a new one for me.

http://www.wikihow.com/Be-a-Millionaire

1. Open a savings account! Having a savings account is one of the many ways where you can set your money up to work for you. Your initial deposit of money grows whether or not you make additional deposits by interest. Learn the different types of accounts, including accounts like IRAs.
2. Buy stocks! If you are gung-ho for individual stocks, you should buy stocks of the companies whose products and services you use or purchase. One of the best ways to invest in individual stocks is through an investment club; you may want to consider forming one with your friends.
3. Buy mutual funds. Mutual funds are really an investment of other investments. When you own a mutual fund, you actually own the securities (stocks, bonds, cash) within the mutual. With mutual funds, you are pooling your money with other investors and diversifying your investment.
4. Audition for game shows. Game shows earn their money by the audience, not the contestants.
5. Find a "system" that has been proven to make people become millionaires. The top five producers of millionaires today are: technology - internet marketing, direct marketing, home-based business, product distribution, and investments (stocks, bonds, real estate investment / development). Usually, the most stable and reliable forms of income would be from internet marketing, technology, and real estate, with internet marketing, and home based businesses requiring the least money to set up. Investments like real estate and stocks are usually quite risky and time consuming.
6. Find a mentor who has walked the walk and seek advice. Surround yourself with already-made millionaires. They can be found in several places, there's even a private online club where you can have a millionaire mentor personally show you how to make money in many areas online.
7. Win who wants to be a Millionaire. If you don't know the answer to the question, just guess you have a 25% chance of getting it right, if you do know the answer, then say it.
8. Have Fun. When you become wealthy doing something you love, your life will be much better than if you were to do something you hate or don't care about. Make a smart decision.

Tips (I've put in bold the tips I liked the most)

• Don't use a credit card much, all of the excessive spending will come back to haunt you, and you may end up in debt. Try getting a debit card for daily purchases, they're a lot easier to deal with. Use your credit card only for emergencies, and to establish your good credit.
• Try not to take any big loans, because that's "big" money that you'll just have to pay back, and you could end up in debt for that also.
• Control your expenses. You get rich on the difference between that and what you make
• Make it a game. Looking for opportunities to make money is supposed to be fun. Never sweat it.
• Read. The more you know the more you will perceive to be possible, the more you can make.
• Make it about something else than money. It has to be fun. Fair enough you are doing it to become financially well off but few wealthy get off on that alone.
• Make friends with people who share the same goals and values. It will reduce your downtime, and give you pleasure when you are down.
• Make friends with people who are different than you. They can be the greatest source of inspiration and guidance if you are open to their different perspective.
• Help others. Learn to be a caring individual that makes the world better for people around yourself. It will lead to more positivity coming your way. Also, donating to charities can come back to you in the form of tax deductions.
• Plan. Define what you want, Act on it, and Evaluate often to see how you are going.
• It is OK to be cheap, but never be cheap on things that give you value.
• Never invest more than you are willing to lose. This is particularly important when you start. The older and more experienced you get the less risk you are likely to take, or the better you are capable of taking it.
• Think a lot on why you want to become rich, what exactly you want to buy, what lifestyle you want. Make it specific, and date your time for having it and why it matters to you.
• Money represents value. You might come to the understanding that you make money on giving something that other value more than what they pay. You spend the money to get something that is more valuable.
• If possible, make the maximum out your retirement fund provided either by your government or your work. Then proceed to put as much money in to an account like a Roth IRA.
• Whoever said money can't buy happiness has never driven a sports car!
• Money can never buy true happiness. Do not lose your friends and family over making money.

Warnings

• Unless you are the wealthiest person in the world, there will always be someone with more money than you; there will always be someone with less money than you.
• Be prepared to make choices that are different than most people around you.
• Keep riches and wealth in perspective i.e. don't kill the goose that lays the golden egg. In other words, avoid neglecting the source of the wealth e.g. decent health.
• Money doesn't always buy happiness (but it can take care of almost everything else).
• Never steal money. So don't get any ideas about robbing the bank.
• Do not brag about how much money you have. Thieves will be more likely to target you.
• Outside of saving your money, there is no guarantee that you will make money through stocks. You should be wary of anyone who tells you otherwise.
• The internet is full of scams. Do not invest any money in them unless you know they are legit.

Robot Zombie Brain Dumping

I'm back in the full-time job with two classes swing of things. I'm not quite swinging that high, and I'm kicking the gravel, but I'm definitely airborne.

You can tell I'm back in school because I'm blogging. It's amazing all the things I do to avoid homework. I really just need to get my mind off of everything right now.

I wanted to make my blogging comeback with a funny story, but that sounds like more brain power than I'm willing to give right now.

By the way, my blogging negligence has been outweighed by my new green thumb. I'd like to think my poor history in maintaining plants has made me a stronger person. Not many can claim that they had taken the lives of the easiest plants to grow- the cactus. I've had two failed attempts. This summer was a turning point, however. I'm most proud of my basil plant. It has flourished all summer.

Summer is essentially over, but I'm not ready. Fall is great, but it's like the Sunday Syndrome. You know the feeling you get on Sundays when you know there's still a full day of the weekend left, but you also know Monday and all its realities are at your front door. Winter is just like Mondays. They are both my least favorite.

What is the deal with this economy? I wonder if it's cyclical or a consequence of bad, political decisions. An economist might say both.