A few hours after it was uploaded, the article “Hidden, self-made millionaires around us” has reached the top slot in the business section’s Most Read list and 9th for the entire INQUIRER.net site. People are either in a hurry to know if people are catching up with them, or leaving them behind.
While writing the article, I was particularly happy to find that there are many millionaires around us who did not inherit their money. I lived in the province during my growing up years, and it seemed that the only way you could get rich is by being born in a wealthy family or marrying into one.
That’s not true anymore.
So, how do you know if you are a millionaire in the making? Do you have the same qualities these hidden, self-made millionaires have?
I would love to work on a full-blown systematic study on this topic, but for the purposes of the article, I found that these questions that will help you begin to find out if you are a millionaire in the making:
1) Do you live way below your means?
2) Are you a tightwad?
3) Do you own your home or actively planning to own one?
4) Are you smart in managing your credit card debt?
5) Are you an aggressive but informed investor?
6) If you are a professional, do you love your work?
7) If you are an entrepreneur, do you love your business?
Can you forego buying something that will give you status for something that will enhance your investment or business portfolio?
9) Do you spend heavily on education?
10) Are you bothered if your friends or relatives look like they have a better lifestyle than you do?
A “yes” answer to the first nine questions is a good key to being a millionaire – or billionaire – in the making.
28 Responses to “Are you a millionaire in the making?”
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Pages: « 6 [5] 4 3 2 1 » Show All
August 8th, 2008 at 4:03 pm
I am a millionaire in the making! In fact, I am exposing on how I am doing it in my blog expecially the “How Did I Get To My Networth” and “My Path to Financial Freedom” articles.
August 7th, 2008 at 1:08 pm
thanks for sharing this.
I have answered yes to all 9 questions and no to # 10.
im on my way to be a multi millionaire.
August 7th, 2008 at 12:17 am
Salve, the subject of my previous post used to hawk huge “bilao” of boiled corn from the Ilocos farm to the market during the summer season to help augment her college tuition. She later got a Master’s degree at a prestigious school in the US while juggling two full time jobs and growing her businesses. Of having enough sleep she said, “Hindi ako pumunta sa America para matulog.”
August 6th, 2008 at 2:23 pm
[...] million is not so much these days. As many of those who commented on my previous article “Are you a millionaire in the making” said, P1 million can hardly buy you an [...]
August 6th, 2008 at 1:22 pm
@spawn, question number 10 measures how sensitive a person is to status symbols. The millionaire mindset shrinks from spending only for status. A “no” answer to number 10 is good.