Monday, October 22, 2012

Who wants to be a millionaire?

Millionaire formula

Simple yet few do it. Why? Is it the lack of hunger, desire, dreams, or discipline? Yes to all and add procrastination to it. Money is misunderstood by most. Information is available to anyone who has the will to learn and follow a simple formula, a simple sequence. How good are you with your money? Those that don’t care for little will not care for much. Who wants to be a millionaire? 

1) Work and keep. Work to learn then to earn. Delay gratification. Help and give to those in need.

2) Live below your means. Control expenses and save. Think long term. Tougher times are coming.

3) Pay yourself first. Make a great decision once. Get the benefit of compounding a great decision.

4) Invest in yourself. Invest in your continuing education. Invest in people.

5) Invest in self-directed Roth IRA. Invest for the long term. Diversify the investments.

6) Fund your 401k or equivalent only to the level to maximize the employer match. Start you regular IRA. Pay your money manager based on asset growth.

7) Start your own business. Find a partner that has been successful in business to bring you on-board  Invest in a business that uses a system to generate income. Help and give to those in need.

Be blessed and be a blessing to others
Carlos Fontana, President of Phalanx
Co-author of the book Follow to Lead (The 7 Principles to Being a Great Follower)
Author of the book PRICELESS (Sixty-Six Simple Stories of Reflection, Love, and Legacy)

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