So many people aspire to become a millionaire, but not so many people are pushing themselves hard enough to reach that particular goal. In a world where being a billionaire is now the new target for the rich, becoming a millionaire is a real possibility, and it mostly comes down to good management, sensible thinking, and occasional calculated risks.
This does not mean you will never make a bad decision. The average millionaire has gone bankrupt a couple of times before ever becoming a millionaire.
What this means is that if you have trouble with making decisions, you will always get passed up by the action-oriented type of person. If you are the action-oriented type of person, the one who makes decisions, you will always make more of a difference than the person who is always paralysed by choice.
In life, it doesn’t matter so much that you’re right, it matters that you decided to try to move closer toward your goals. Of course, it’s risky to be wrong and it can be painful to make a bad decision, but that’s why it’s a rare and valuable skill.
Between now and when you reach your goal of becoming a millionaire, it will require you making lots of decisions. Decisions that it shouldn’t really matter whether you’ll be right or not as long as it’s headed towards your goal.
The writer Tucker Hughes, who became a millionaire by 22 writes that “Avoid decision fatigue”. “Attention is a finite daily resource and can be a bottleneck on productivity. No matter the mental stamina developed over time, there is always going to be a threshold where you break down and your remaining efforts for the day become suboptimal.
“Analysis of several hundred people who had accumulated fortunes well beyond the million dollar mark disclosed the fact that every one of them had the habit of reaching decisions promptly,” Hill wrote in his 1937 personal-finance classic “Think and Grow Rich.
“Before reaching the seven-figure mark, you must take many risks,” writes Ally. “Taking risks requires much faith in yourself and others, but it must be done. Faith is knowing that what you want will eventually happen as long as you believe it. You’ll have to take major leaps in your life, sometimes not even knowing where it will lead. However, it will pay off once you get to the other side, even if you burn a bridge or two in the process.“
You can’t get rich with low expectations — the wealthiest, most successful people think big and play to win.
Self-made millionaire T. Harv Eker, who also studied incredibly wealthy people before releasing his book “Secrets of the Millionaire Mind” says that while playing to win in any aspect of life requires an element of risk-taking and a level of comfort with uncertainty, it could be the difference between living an average life and living a rich life.