The journey to become financially independent from the scratch is little tedious and full of setbacks. It takes strong resilience to invest in a risky venture expecting a prolific outcome.
The greatest setback to millionaire journey is fear of failure. The moment you allow fear to whittle down on your investment plan, then there would be little or no expansion, your investment strategies will remain untested and buried. So the brave investor will take the bull by the horn and throw the dollars away into the fixed cost river. Soon the river will begin to purify the money and multiply them for you with little variable energy.
The real millionaire is the person with strong investment ideas supported by modern intelligence. When an investment idea is backed with superior wisdom, success is guaranteed. There are several important key ideas that will help you to become a millionaire if your desire is to become one. These powerful ideas will push your money into a multiplication zone and creates more and more income to the investor. Let's set the ball rolling.
(1) Know your real income and begin saving it.
If your desire is to become a millionaire, first know your real income. It is the amount of money left after spending from your take home salary. So if your salary is not enough to cater for you within a month, then your real income is zero. But still, there is a way to go. Live within your income and save a portion of your disposable income. Gradually, save this small income for a very long time. It will become a huge capital as start up for your investment plans and strategies.
(2) Draft an investment graph taking into consideration plans to raise multiple streams of income from your investments.
Design several investment strategies that will be implemented simultaneously. This plan will help to reap more profits from your investments. Make proper arrangements to take off. Get all the necessary documentations and start your journey. Everything will work well if you don't quit.
(3) Pay your taxes and respect all relevant domestic and international laws affecting your investment.
As you set off your journey, get ready to observe all international and domestic laws relating your products. Take the laws of EU and US into account to protect your business from being fined for violation of these laws. A fine can easily collapse your business and destroy everything you have built overtime.
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