FAMILYCOMMUNITY INSPIRATION RESOURCES PARTNERS



Money and Security -- Want to be a Millionaire?
 
By: Dan Miller

MONEY AND SECURITY

In 1900 there were fewer than 5,000 Millionaires in the United States. Today there are nearly 2,000,000 Millionaires and 40 Billionaires.

100,000 more become Millionaires each year -- one each 12 minutes.

Here is a list of how people accumulate wealth in America.

1. ___74%__ Self-Owned Business.
This includes typical entrepreneurs, eaglepreneursÔ, real estate agents, etc. You don’t have to reinvent the wheel or patent something to be very successful. Three of the most common millionaire producing businesses in the United States are dry cleaning, vending and printing.

2. ___10%-_ Senior Executive Positions
People like Lee Iococca, who stayed in the automotive industry for years
and worked his way up to a high paying position. In today’s work
environment, longevity and seniority are not necessarily going to be
rewarded. Results are what get noticed, so these senior executive
positions may be filled with a newcomer. CEOs, CFOs, and other senior
positions may be attained quickly if one can prove his/her ability to get
the job done, however, there is little traditional “security” in any of these
positions.

3. ___10%__ Doctors, Lawyers, and other Professionals
Some of these people end up wealthy, but not all. Many who feel the
necessity of presenting a certain standard of living, live high
consumptive lifestyles, and never accumulate any real wealth. Even high
income for services will never make one wealthy. It is only those who
live on much less than they make and put some money to work for them
who go on to become wealthy.

4. ____5%__ Sales People and Consultants
This can be any industry, service or product. There is little connection
with educational degrees, licensure, or certification; they are simply
people who are very good at selling.

5. ___>1%__ Stock Market, Inventors, Show Business, Authors, Songwriters,
Athletes, Lottery Winners.
This is a strange realization. The less than 1% category is what gets noticed and talked about; every little kid wants to be the next Michael Jordan, Garth Brooks, Mel Gibson, or Cindy Crawford. These rare examples of success, combined with all the other areas listed in #5, comprise less than 1% of how people become wealthy. Statistically you can go from the 1% category to the 74% category this afternoon by going out, buying a $100 lawn mower, and starting a yard service today. Your real chances of financial success are vastly greater than trying in these rare areas of success.

Remember, you don't need to reinvent the wheel to have a successful business. Just do something
10% better or provide added value.


"THE BEST WAY TO PREDICT THE FUTURE IS TO INVENT IT." Alan Kay



 








© 1998-2002 The Business Source, all rights reserved.
Email: Info | Webmaster | Privacy Guide & Terms Of Use

FAMILYCOMMUNITYINSPIRATIONRESOURCESPARTNERS