What’s The Recipe for Self-made Success? Discipline, Intelligence and Dedication.
8th Oct 2019
Self-made millionaires didn’t achieve success overnight. Many of them had a strategy for savings and didn’t achieve wealth until after 50 years old. Most pre-millionaires started with long-term goals. To become a millionaire, you need discipline, intelligence, extreme dedication – and of course passion. Here’s our latest roundup of top stories on secrets of the self-made.
A Man Who Interviewed 177 Self-made Millionaires Says They All Started with the Same Savings Strategy
Thomas C. Corley, a certified public accountant and certified financial planner, spent five years studying millionaires and wrote about them in several books including, “Change Your Habits, Change Your Life.” He found that in pre-millionaire years of wealthy people each person started with the same goal: saving 10% to 20% of their income and used “the bucket system” to separate their savings into four categories.
Via Business Insider
Nearly 68% of the World’s Richest People Are ‘Self-made,’ Says New Report
A recent report says the vast majority of people who are wealthy, have made it on their own. The report “showed muted growth” in the number of ultra-wealthy people in 2018, “rising by 0.8% to 265,490 individuals.” Of those people, 67.7% were self-made, while 23.7% had a combination of inherited and self-created wealth. The predominance of self-made wealth versus inherited wealth is driven by new opportunities in technology and in emerging economies.
Via CNBC Make It
Escaping the Corporate Grind and Making Your Passion a Career
This entrepreneur, who had a corporate job at a Fortune 500, lived a comfortable life but after 22 years of the corporate grind, he wanted to revive his dream of having his own business. He pursued his passion for travel and started a travel advisor franchise and has found success.
Three Tips To Improve Your Chances Of Success As A Female Entrepreneur
While the number of women-owned businesses has grown 114% compared with the overall national growth rate of 44% for all businesses according to 2017 data, women entrepreneurs continue to remain a minority. Here are three tips to improve odds of success.
How to Turn Frustration into a Multimillion-Dollar Business Idea
Daniel Kane, CEO and co-founder of The Ridge, turned his frustation of having a bulky wallet in his back pocket into a multi-million dollar brand. What started with The Ridge Wallet has become a full suite of everyday essentials including phone cases, bags, power banks and charging cables.