~Misconception 10—Millionaires Are either Lucky or Smart~

10—Millionaires Are either Lucky or Smart

Whenever a person under thirty years of age has reached the million dollar plateau, the news media often report the big event. People who accumulate this kind of money early in life may very well be lucky or smart, but more often fortunes are made over the course of many years of devoted work.

Since many of us don't have any millionaire friends, we often create illusions about them. We calculate that they must be similar to an alien life form that is vastly superior to ourselves. Since we consider ourselves about average, we assume that it is our destiny to become like our friends and settle for life with modest assets.

Are Millionares Simply Lucky?

Luck and intelligence seldom play a role for anyone who accumulates a fortune. What are the characteristics for a millionaire? According to Dr. Sam Janus, who studies this question at New York Medical College, millionaires have five characteristics in common.

1. They are captivated by their work.

2. They are patient and persevering.

3. They compete only with themselves.

4. No aspect of work is beneath them.

5. The primary interest is not money.

Most people have given up trying to accumulate wealth. They may say, “I'm not smart enough,” or “I'm not that lucky.” This is their rationalization for not jumping off the bandwagon to nowhere and creating a life for themselves.

This article taken from “Born to be Rich.”