Did you know, millionaire doesn’t mean “Celebrity”?

Did you know, millionaire doesn’t mean “Celebrity”?

 
Although you might think — judging from Salman Khan, Shahrukh Khan, Donald Trump, Oprah Winfrey — that most millionaires are celebrities, the truth is more than 99% of millionaires are hardworking, methodical savers and investors.

These folks typically make their fortune in one of the three ways:

1. From entrepreneurship, which accounts for 75% of all the millionaires;

2. As an executive at a major corporation, about 10% of the millionaires; or

3. Professional practitioners (doctor, lawyer, dentist, certified public accountant, architect).

4. Additionally, about 5% become millionaires through sales and sales consulting.

Indeed, most millionaires are regular folks who worked hard, lived within their budget, saved 10% to 20% of all their income, and invested it back into their business, real estate, and the stock market, They are the people who own the dry cleaning business, the car dealership, the restaurant chain, the bread company, the plumbing supply store, etc.

Remember, people from any walk of life (you included) can become millionaires if they learn the discipline of saving and investing and start early enough.

I remember a story of one lady named Oseola McCarty of Missiccippi, a school dropout, who spent 75 years of her life, washing and ironing other people’s clothes. She lived a frugal life. In 1995, she donated $150,000, the bulk of her $250,000 life savings, to the University of Southern Mississippi to provide scholarships for needy students.

Think. I am sure, you are at much better place.