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Money and Security -- Want to be a Millionaire?

Written by: Dan Miller

Article Overview: In 1900 there were fewer than 5,000 Millionaires in the United States. Today there are nearly 2,000,000 Millionaires and 40 Billionaires. 100,000 more become Millionaires each year -- one each 12 minutes. Here is a list of how people accumulate wealth in America.

Money and Security -- Want to be a Millionaire?



1. ___74%__ Self-Owned Business.

This includes typical entrepreneurs, eaglepreneurs, real estate agents, etc. You don’t have to reinvent the wheel or patent something to be very successful. Three of the most common millionaire producing businesses in the United States are dry cleaning, vending and printing.

2. ___10%-_ Senior Executive Positions

People like Lee Iococca, who stayed in the automotive industry for years and worked his way up to a high paying position. In today’s work environment, longevity and seniority are not necessarily going to be rewarded. Results are what get noticed, so these senior executive positions may be filled with a newcomer. CEOs, CFOs, and other senior positions may be attained quickly if one can prove his/her ability to get the job done, however, there is little traditional “security” in any of these positions.

3. ___10%__ Doctors, Lawyers, and other Professionals

Some of these people end up wealthy, but not all. Many who feel the necessity of presenting a certain standard of living, live high consumptive lifestyles, and never accumulate any real wealth. Even high income for services will never make one wealthy. It is only those who live on much less than they make and put some money to work for them who go on to become wealthy.

4. ____5%__ Sales People and Consultants

This can be any industry, service or product. There is little connection with educational degrees, licensure, or certification; they are simply people who are very good at selling.

5. ___>1%__ Stock Market, Inventors, Show Business, Authors, Songwriters, Athletes, Lottery Winners. This is a strange realization. The less than 1% category is what gets noticed and talked about; every little kid wants to be the next Michael Jordan, Garth Brooks, Mel Gibson, or Cindy Crawford. These rare examples of success, combined with all the other areas listed in #5, comprise less than 1% of how people become wealthy. Statistically you can go from the 1% category to the 74% category this afternoon by going out, buying a $100 lawn mower, and starting a yard service today. Your real chances of financial success are vastly greater than trying in these rare areas of success.

Remember, you don't need to reinvent the wheel to have a successful business. Just do something 10% better or provide added value.

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Article Tags: automotive industry, br 3, business authors, cindy crawford, educational degrees, executive positions, garth brooks, inventors, lee iococca, little kid, lottery winners, mel gibson, michael jordan, real estate agents, rsquo, sans serif, seniority, span style, style font, work environment



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