Misconception No.8 -- Millionaires Earn A Million Dollars A Year

No.8 -- Millionaires Earn A Million Dollars A Year

Anyone who believes that millionaires earn a million dollars a year probably hasn't thought much about it. More often a million dollars has been accumulated over many years. Incomes of $50,000 to $100,000 a year are very often earned over a long period of time. As the years roll by and the assets become larger, the whole thing gains momentum and grows, much like a snowball rolling down a hill.

Learning to "Save" is often Critical.

Anyone who can save money can become reasonably wealthy in time. As money piles up over the years, the investments eventually will create more income than the job or business that created it. Owners of small businesses are accumulating fortunes every day by doing nothing more than operating their enterprises. Rather than spending everything on consumer goods, wealth is accumulated by purchasing goods which do not depreciate in value, such as real estate, art, antiques, gemstones, stocks, and bonds.

Sometimes, becoming a Millionaire is not a Spectacular Endeaver.

Occasionally we hear about a phenomenal athlete or talented movie star who receives a million dollar contract. For each one of these, there are very likely hundreds of others we'll never hear about who accumulate just as much wealth in a less spectacular manner. Let's face it; it's just plain dull to hear about someone who became rich over a fifteen to twenty year period with some system that puttered along very efficiently year after year.

What does this mean for you?

It means that you do not neccessarily need to create the next Facebook or Apple. Operating most any business in an effcient manner will result in million dollar accounts at retirement. It doesn't matter what you have done up to now. You can begin your voyage begining at this very moment.

**********

This article taken from Born to be Rich, a book written in 1987 and currently updated and now available in print and downloads worldwide. View MIsconception #1 or start at the begining of Born to be Rich with a langorous trip down the Mississip'.

Visit other business Hubs begining here.