Today I stumbled over a poorly written article about “Who becomes a millionaire? In 5 easy steps to a million” at yahoo.de .
The steps which should make everyone rich are:
- Choose the right career
- Marry but only once
- Earn two incomes but live from one
- Make longterm investments
- Don’t live like a millionaire
To summarize them in short words: “Shit, everyone knows!”
Of course it is easier to build up a fortune if you earn more money and as long as you spend only a small part of your income on your lifestyle you got even more money to save and invest.
But to tell the truth not everyone got the opportunity to get an education which leads to a high paid job.
Longterm investments mostly have a higher interest rate and you got even higher profits from the compound interest effect. As the name longterm investment itself tells it takes a lot of time and your money is bound for this time. So you have no savings in the case of an emergency.
To marry only to become a millionaire or just save money also seems not only a little bit weird. And against the expenses of a divorce you could cover yourself with a marriage contract. By the way as long as you are married and the aim of you both is to become millionaires you also need to save the double amount of money.
At last ask your self what is the meaning of being rich or at least prosperous if you live like a church mouse and don’t enjoy any benefits of it.
After bore you with my confused thoughts during late hours I’ll present you my idea tomorrow. Until then you can read the original article at http://de.finance.yahoo.com/ if you understand German.