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Monday, July 20, 2009

Becoming a Millionaire in a Virtuous Way

By Mitchell Derosa

They say patience is a virtue, and there's no time this is more true than when you are setting out to increase your personal wealth. More money for the sake of having more money is monotonous; instead, honest work and new pursuits lead to the best kind of wealth.

Life cannot be exciting every minute of every day; in fact, if there's no period of downtime to compare to, nothing can be exciting at all. If the entire focus of your life is on becoming wealthy, you can sap all the other pleasures out of life. While everyone may want to be wealthier, we want to be wealthier for the items and experiences that wealth symbolizes -- not just to see an extra digit on our bank statement. The continual pursuit of wealth leads to destructive and risky behaviors, like gambling and black market dealings. Or you might find yourself so discouraged by your relentless pursuit of wealth that you squander money on meaningless entertainment to try to make yourself feel better. Wealth should be the earned reward of hard work; and the harder you worked for wealth, the more rewarding the experience will be for you.

While it's possible to get lots of cash quickly, the safer and more reliable route is to be patient and intelligent about it. By working hard and making smart choices, the odds of earning your first million are on your side, and you'll be more likely to continue making money for a lifetime.

The case is often times that the world's hardest workers are often the poorest. Working hard is only one part of the millionaire's formula; to make a good deal of money, you have to work smart. Let us put it in this kind of perspective: To be a millionaire, you need to take on a job that puts you in a office at the top floor, rather than of sweeping the front lobby on the bottom floor.

As what I said earlier that winning a gamble in a Casino, a million-dollar game show or a very rich relative leaves you a great inheritance, you can never have a complete satisfaction. Making millions needs a lot of careful financial planning and foresight. It takes years and years or even decades for people to reach the high figure they always desire. Plan your millions in long-term; this also means that you must find ways to keep yourself wealthy. Hit the books, research, listen to right financial advice, and apply your financial knowledge to investments and savings you make.

While there's always the chance you won't see your first million, your best bet is to set out on a course of dedicated work and diverse income streams that are likely to continue on in the future. Even before you see a penny of your first million, though, you can begin to develop the kind of attitude and lifestyle that you expect being a millionaire to provide you. You can work hard, develop a strong savings habit, and concentrate intently on your life goals. The road to wealth is a bumpy one, and the stronger your skillset and attitude are, the better prepared you will be for any eventuality. - 23208

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