10 signs that you're going to become millionaire

10 signs that you're going to become millionaire

In this article, I will share 10 signs with you through which you can know whether you would be a millionaire in life or not. Now, this needn't be something that you have today, but if you don't have these signs, it's quite likely that you are not going to become a millionaire.

10 signs that you're going to become millionaire are:-

You have a lot of income streams in your life.

You are not dependent on just one income stream. Along with your work, you do a lot many things or create assets that give you a lot of incomes coming through. If you are in your 20s, then you invest in stocks, you invest in Crypto, you invest in skilling yourself, you are doing your job too, you are opening a side business as well, all of these are going to give you multiple income streams as you grow older, and that is your sure-shot way of becoming a millionaire. if you want to know more about earning money online you can visit earning application.

Mindset.

You have what's called a growth mindset. There are 2 kinds of people in the world.

Number 1: People with a fixed mindset. These are the people who believe that they will remain the way they were born. The intelligence they were born with will remain the same. The capability they were born with will remain the same. And they are always complaining in life. They always keep cribbing about something or the other.

Number 2: The growth mindset. These are the people who know that you can grow far more than what you are born with. Your intelligence is not limited. Your capability is not limited. Mostly, in fact, almost 100% of all millionaires are the ones with a growth mindset. They never say never. They never say, 'I can do only this much, no more.' They are ready to punch above their weight. And you will also have to adopt that growth mindset if you want to become a millionaire.

Before spending, you invest.

What most of us do is, we receive our income, we spend it, and then we invest whatever is left. Expenses will never be less, expenses will always come at some point or the other. How much will you give to the government in form of taxes? How much time will you keep spending on your needs and wants? You will have to first pay yourself, and that happens when you invest before you spend.

Whenever you buy shoes, or a phone, or an expensive gadget, or a car, or go on any vacation, you must invest before all these. If you do that right, you can actually sponsor your purchase as against take a loan for it.

You live below your means.

You spend less than what you earn. You never go beyond your needs. This is a sure-shot way of investing the right amount and then becoming a millionaire. If you think any millionaire is making unnecessary expenses, they are doing it only when they have reached a point where they can afford to do so. But to reach that point, they continue to live below their means.

Nobody becomes wealthy if they spend more than what they earn. They are only trying to show off, which is also one of the points, but it is important that you live below your means, especially in your 20s. In your 20s, nobody expects you to be rich, nobody expects you to have an expensive car, nobody expects you to wear expensive clothes, and yet if you do that, you are not being true to your millionaire mindset.

You invest regularly.

So it's not enough to just invest, you have to invest regularly, because you don't want to be timing the market. You don't want to rack your brain about when the market is up or down, or is it the right time to invest or not.

The ones who invest regularly are the ones who keep that money growing. But those who keep waiting, or those who just invest once and then forget all about it, are the ones who miss out on that millionaire train, which is not what you want to do.

You don't seek validation.

You don't care about how the world perceives you, what the world thinks about you, because the more you try to please the world, you will only be able to make them happy with money, you will only be able to make them happy with status, so you will try to get that expensive car, that expensive phone, those expensive clothes, but all that is absolutely hollow.

If you take a loan to buy a car, you don't actually have that car, you actually have a loan. That is the truth. So shove society out of your mind, and focus only on yourself. If you are living below your means, and you do not seek validation, then you are going to become a millionaire, my friend, because that person doesn't care about the perception of people, they don't wear thick chains around their neck, even if they do, it's hidden, because they know they are doing it for themselves, not for the world.

You don't take personal loans.

Each and every personal loan is a liability that you have to escape. You should not take personal loans. You must not take loans on credit cards, or you will not use a credit card for expenses, even if you do, then you will pay the full amount, not just the minimum amount. You will not take loans from people to fulfill your needs. That is not what you will do, that is not what future millionaires do.

Even if future millionaires take a loan, then they take it for those things which are going to be an asset for them. Do you know what you are doing the day you are taking a loan for a car? You buy a car, the minute that car is out of the showroom, its price goes down by 10-20%, and then you pay interest for it. That is how ridiculous it is! Whenever you buy an expensive phone, expensive clothes, you do something through which you want to show off your wealth to the world, when you take a loan for that, you are making the biggest financial blunder, that millionaires would never make.

You can defer gratification.

If you desire something, you don't instantly gratify that, you can actually wait. In fact, most millionaires are able to delay gratification. They say that this thing can wait. There is a beautiful 30-day rule, I spoke about it recently. When you feel like buying something, don't buy there and then, buy it after 30 days, and after 30 days, ask yourself, The need that I felt for this thing 30 days back, do I feel the same need today? Most likely the answer would be no. And that would allow you to defer gratification. It's not like, the moment you see something, you buy it instantly, especially if it's on sale. No! You will actually resist and ask yourself, Do I really need this thing or not? If you are able to do that, you have the mindset sign of a millionaire.

You delay big purchases in your life.

There is no hurry to buy a house. There is no hurry to buy a big car. There is no hurry to go for an expensive vacation. You know you can do it later in your life. Right now, you have to do it in a smart manner. I will give you an example. There are so many people who buy a house in their 20s, and obviously, they don't have the whole amount to buy the house, so they take a loan. When they take a loan, their capability to repay the loan is as per their income, and hence they can buy a house accordingly only. But as their family will grow, they will have more desires, that house would seem very small, maybe that locality doesn't seem right.

Who knows you may live in a different city, or a different country for your job, because now everything is remote, or everything is free-flowing or fluid, then suddenly the EMI for this house would pinch you. Delay that purchase. Stay in rented accommodation. And invest according to your capability to pay the EMI for a loan, because your rent would not be as much as your EMI, but your investment will ensure that in 5-10 years, you are able to buy the house you wanted with your own money without taking a loan. A simple example to illustrate how millionaires think.

They delay big purchases because they know they don't need them, and if they invest in the right manner, then they can get their money to buy that purchase as against buying it yourself.

You are focused more on your earnings than your saving.

A lot of people try to save and reduce their expenses, but they miss the bigger picture, the expenses cannot be reduced beyond a point but your earning potential is infinite. There is no seal on it. Whatever you can earn today is determined by how much time you can invest, how many skills you have, and how much risk are you willing to take for it. Focus on your learning. If you pick up sign number 2 and create multiple income streams, then that is a way for you to focus on your income as against your savings.

This was a game-changer for me. The moment I realized that my income potential is infinite, but my spending limit is set, because there is that much that I have to spend monthly for household expenses, then it just changed everything for me, because I now realized that if I invest in the right places, invest in the right skills, give the right time, you can actually make a lot more through your time, your money, your capability, than you can actually save.

Conclusion

These 10 signs are signs of a rich. As I said, it is not necessary that these signs are present in your life right now, but for you to become a millionaire, you ought to have these 10 as part of your life. 5 action signs and 5 mindset signs, when you bring them together, you have the mind of a millionaire.


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