JOURNEY TO £1MILLION 016: Small Steps To £1MILLION

Many people who became millionaires through hard work did it in small steps. Warren Buffett has slowly accumulated his fortune, only gaining notoriety and fame after he was 60 years old. Ray Kroc built his fortune one MacDonalds franchise at a time. So it is with you and me. It doesn’t need to be the overnight success we think all the millionaires have had.
It is a certainty that one can get a million. You simply need to get to know how to get there. Once the goal is there, for the right reasons and working with the right people around you, then you can become a millionaire or build a million pound business/charity.
This is the reason I started this series and 16 episodes in, I am starting to feel confident I have sufficiently laid the foundations so that you can understand what i am using in my journey. After episode 20 I am going to start getting into some more detailed posts documenting the various aspects of becoming a millionaire, from handling debt to saving and investing to crushing poverty thinking. So watch out for those episodes and like this page to get to see all these future videos!!
But back to this episode. It is the little things that stop us from realising financial freedom. Like a boat with many holes fast fills with water, so if you have lots of little aspects of your money not in sync then you will fail.
What should you do then to cover yourself?
- Control your spending
- Avoid debt
- Save consistently
- Learn endlessly about how to grow your money
Anybody can make £1 million! They just need to simply live within their means. Do you know why pop stars and sports stars who earn millions in a single year end up with nothing? Or why lottery winners almost always end up with nothing after a little while? It’s because they worry more about spending the money than mastering it.
Whatever you do for a living you can become a millionaire. You could be a cleaner, a shop assistant, a doctor, a businessman, a stay-at-home mom! Someday I am going to release information of how I grew a minimum wage salary into a million pounds. It takes time to walk 1000 miles, but even small steps without stopping will get there.
So How Can It Be Done? Here’s an example to spark your imagination:
If you saved £10 a month and every year invested it in a business enterprise that gives you a 30% annual return, in 10 years you will have just under £6,000. In 20 years, you will have £87,000. But in 30 years, you would have £1,200,000!
Now imagine how much you could affect this scenario if you were saving £50 instead or even £250 a month?? It is possible then to do this, all that you are lacking is the discipline to put that money aside every month and not touch it. All you need is to go out of your comfort zones and get to know about business building, angel investing, property, trading, buying and selling, cryptocurrency, whatever it will take to grow your money. All you are missing is the courage to go and meet people who are building businesses and building relationships with them to see if they need your cash.
The only key in all this would be the ability to patiently focus and always be applying the principles I talk about on this journey to £1million. You don’t have to be a business tycoon, a high paid executive or special to make a million. It can be done in small disciplined steps.
Rick
