6 Steps To Becoming A Stealth Millionaire
It's actually very easy to become a millionaire. A shocking statement, I know.
Nearly 1 out of 20 individuals in the United States is a millionaire and the majority of those are self-made millionaires. In the United States, there is nothing stopping you from reaching your financial goals. If you're interested in become a stealth millionaire, follow these 6 steps below:
1. Get Rid of Debt
Millionaire's hate debt. They normally avoid it at all costs, unless it is for the purpose of further growing their business. However, when it comes to consumer debt they have none. Why? Millionaire's know that debt is the fastest way to ruin your net worth. Instead they work relentlessly to rid themselves of consumer debt and use their money to invest in their portfolios.
2, Make saving a habit
Millionaire's don't make saving an after-thought. It is first and foremost in their mind. They make saving a priority and a habit. They pay themselves first and make sure that a portion of everything they earn is saved, or invested.
3. live within your means
Millionaire's know that without some wiggle room in their budget, there is nothing left to save or invest. So, they live within their means to make this possible. This doesn't mean they may not have healthy budgets, but they do not overspend in relation to how much they earn.
4. Don't increase your Lifestyle
Millionaire's do not increase their lifestyle every time they earn more income. They keep their spending and lifestyle steady and instead use that extra income to invest in their portfolio or businesses. By keeping their lifestyle the same they can increase their net worth.
5. become a business owner
Most millionaire's are business owners. It can be as small as having a "side hustle" from their main job or having multiple businesses. Millionaire's know that the only way to achieve true wealth is to own something that can reap dividends in the future.
6. create Multiple Income Streams
Millionaire's do not rely on one income stream. Millionaire's in the United States have an average of 7 income streams. They maximize their talents and use them to either invest in other businesses or real estate.
See...becoming a millionaire isn't that hard. If you follow these 6 simple rules, you will be on your way to becoming a stealth millionaire.