You don’t have to be Elon Musk to become a millionaire!
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- Опубліковано 22 бер 2024
- This week I want to explain to you why it is you don't need to be Elon Musk just to become a millionaire.
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Right, if you could just be 0.1% as successful as Elon Musk, you'd be fabulously wealthy.
By the way guys, I joined the 10% Club, I had my very enjoyable Zoom call with Perry. I think I mostly have my own plans and goals and I don't think I need a lot of guidance with that, but I like the honest practical videos. I like to hear about the financial journeys of like-minded people, and I may learn something along the way. To me this is one of the very best average-person financial channels on UA-cam.
Thank you so much.
The best part for me is how much I actually learn from the journeys of people like yourself
Spot on Perry, the hardest parts is suck and time. These two can influence your plan too.
So true John
Very true. You need to 'plan the dive, then dive the plan.' The plan needs contingencies.
The goal and plan really are the secret sauce Vince
Thanks for another interesting video Perry. At some point could you provide a video defining your opinion of what makes a millionaire? It doesn't seem that simple. Would you count estimated home/s value, pension savings, state pension value, partner's savings etc. At what exact point will you be grinning from ear to ear with a glass of champagne?
I think it’s assets minus liabilities mate.
I’ve never seen a millionaire retire once that status was achieved though, nor allowed themselves to pause for a wry grin. I can’t imagine feeling any different. If you still have a purpose I think you just keep going.
I have to agree with Perry, it's what you owe deducted from what you own, what's left is your net worth, if that's a million or over, then you're a millionaire, if it has a minus in the front then you might need to work a bit harder.
Elon and others like him are the success stories we all hear and want to follow or happen to us, but there's many more where people have quietly got on with the boring life saving, investing, working, time after time and then one day they realised they're a millionaire. Their asset values are high, liabilities are low so that magical networth is achieved and this was just the boring stuff like saving, investing & working, nothing exciting like rockets, Bitcoin, World changing software or any of the other once in a lifetime wealth changing events.
If the signpost doesn't have any destinations, does that mean you make your own destination, no matter which path you take, they all end at the same place? All roads lead to Rome I hear, pretty sure that's not true as I've got lost loads of times.
You simply need to convert your hard earned currency into a superior asset. It’s not that hard.
Thanks. What I mean is what is the exact moment one becomes a millionaire? It will never happen for me but I'm curious.
When your assets are £1 million greater than your liabilities.
I have a goal to get The 10% Club membership to 1000 subs in 12 months. Should that happen, that business will be worth £1 million.
I’ll tick the ‘objective achieved’ box, have a large scotch, and get back to work worrying about how to make the service better to its members.
Plain and simple.
Stop spending all your earned income, and invest in assets that grow in value and produce an income.
It’s simple but hard enough to keep the competition few.