The Five Ways to Become a Millionaire

If you are really serious about becoming wealthy,
you will want to know the five main ways that fortunes
are made in America. Number one, top of the list,
top of the hit parade throughout the history of America,
is self-owned businesses. It is entrepreneurship of all kinds,
including in real estate. 74% of self-made millionaires
in America, not only in this generation and in this century,
but in the last century as well, come from self owned businesses.

The great majority of wealthy people started businesses and
built them from the ground up. In the 19th century, fortunes
were built by people like Andrew Carnegie, Jacob van Astor,
Thomas Edison, Commodore Vanderbilt, J. P. Morgan and others.
In the 20th century, especially in the last few years,
businesses and fortunes alike have been built by people like
Bill Gates, Steve Case, Larry Ellison, Ross Perot and Sam Walton.
Each of these people started with nothing and succeeded in
building a business from scratch.

The second major source of self-made millionaires in America
is senior executives. Ten percent of the self-made millionaires
in America are men and women who have joined large corporations
and worked with those corporations for many years. They rose to
positions of seniority, were paid extremely well, given stock options,
profit sharing and bonuses, and as a result of holding onto the money,
they became millionaires.

Richard Eisner of Disney Corporation received a $126 million
dollar bonus in a single year. Lee Iacoca of Chrysler Corporation
was paid $26.7 million dollars as a bonus in a single year.
It's not hard to become a self-made millionaire when you are
making that kind of money.

You can read about other three ways to become millionaire
on the next blog post.

Have a great week,
T.Draganova