10 Signs You’re Destined To Become A Multi-Millionaire #Finance

all right let’s jump right into it 10 clear signs that indicate you’re destined to become a multi-millionaire and hi if you’re new to the channel my name is T from Financial tortois where real SC well slow and steady the number one sign you’re destined to become a

multi-millionaire you know your why you not only have a good understanding of your specific financial goals but more importantly why you want to achieve them three brick layers are asked what are you doing the first says I am laying bricks the second says I’m building a church and the third

says I’m building the house of God the first brick layer has a job the second has a career the third has a calling so if you’re asked today why do you want to become a multi-millionaire what do you think your answer will be will it be so I don’t have to worry about money again

because I’m tired of being broke or is it so that you can retire comfortably because you’re terrified of running out of money after you leave your job or is it so that you can financially support your favorite Charities because you so much believe in their cause there’s of course

no wrong answer here just an answer that makes the most sense for you I want quite a bit of financial turbulence growing up in my early teens my family experienced two back-to-back bankruptcies and as a result we were once evicted from our house it was not fun watching my parents always stressed

and fighting about money now my parents did the best that they could with the resources they had at the time and I am thankful to them regardless of the financial stress however that does not mean I need to repeat the cycle thus I vowed to myself growing up that I would never place myself or my

family in a similar vulnerable situation again if I could help it and that is my why of why I want to become a multi-millionaire I’m not saving an investing just for the sake of saving and investing but so that I can provide for my family the financial security that I wasn’t able to

experience growing up the number two sign you’re destined to become a multi-millionaire you have a plan specifically a financial plan to achieve the multi-millionaire status according to a Charles swap study only 33% of Americans have a written financial plan in my book that is not enough

many don’t create a plan because they don’t think they have enough money to make a plan worthwhile some say it’s too complicated and too overwhelming however the most common answer that I’ve heard I just don’t have the time but do you know what Benjamin Franklin would

say to these excuses baloney if you fail to plan you’re planning to fail would you get on a road without a plan on how to get to your destination you would immediately get lost especially if it’s a destination you’ve never driven to before in the same way if you don’t have a

financial plan even the most rudimentary one you will never get ahead financially you will conate loss or worse yet never get out of the driveway so if you don’t have a basic financial plan block out some time and write something down how much do you want to be earning in 5 years how much do

you want to have saved in 10 years and how you plan on getting there getting a new degree a promotion increasing your Savings rate lowering your expenses or all of the above regardless of what it looks like if you’re even thinking about this and have something written down

you’re way ahead of most people and I applaud you the number three sign you’re destined to become a multi-millionaire you show up you show up every day having financial goals and a financial plan is great however even a best laid plan without action is not worth much Woody Allen when

asked about advice For Young Artists said this my observation was that once a person actually completed a player a novel he was well in his way to getting a produced or published as opposed to a vast majority of people who tell me their ambition is to write but who strike out on the very first

level and indeed never write the play or book bottom line just show up and you’re 80% there just take one step every day and that is more than what most people do in their lifetime I say this often in this channel but Building Wealth is not complex we humans make it complex because we

mistakenly equate complexity with sophistication and sophistication with Effectiveness however when it comes to one day becoming a multi-millionaire the steps are quite simple and straightforward live below your means stay out of Debt and invest the difference in appreciating

Assets so do a bit of this every single day if you wake up today and save $10 eating out that is amazing kudos to you if tomorrow you pay down $100 in student Debt you are rocking it and the next day you invest all that Savings into a lowcost broad

market index fund and hold it for as long as possible now you’re a superstar just steps away from joining the multi-millionaire Club bottom line however you feel how many more mistakes you make don’t give up and show up every day the number four sign you’re destined to become a

multi-millionaire you understand your Finances you have a good understanding of your overall Financial picture GI Joe famously said this no one is half the battle however the

sad fact is that most Americans have no idea where they stand in relation to their money according to inid 65% of Americans don’t know how much they spent last month most don’t know what percent their salaries go out eating out on housing or on Transportation some may think that they

know but because they never spent the time to track their expenses or calculate their Net Worth they’re just taking a while guess and when you’re just guessing with your text-decoration: none;">Finances it is really hard to make Headway it’s like driving a car without a speedometer you might think you’re going 50 mph hour but in actuality you’re going 70 mph and soon you get pulled over by the police here are some basic numbers you

want to wrap your head around if you don’t feel like you have a good understanding of your Finances one your spending Trend how much you’re spending on housing

transportation and everything else and both on a monthly and annual basis two you’re saving an investing rate how much and what percent of your Income are you saving investing every month and every year 5% 10% or 0% three your Net Worth this is all your

Assets minus your Liabilities this single number essentially shows you how rich or poor you are and if you have a good understanding of all these numbers kudos to you future multi-millionaire and if not no worries you can start today so you can join the

multi-millionaire Club one day as well a quick reminder if you want some help with tracking some of your financial numbers especially your Net Worth I have a couple free gifts I want to share with you one a free Net Worth tracker where you can input all your

current Assets and Liabilities so you understand where you currently stand with your Finances and two a free PDF companion guide that

summarizes everything I’m covering this CashNews.co so you can reference them long after you’re done watching this CashNews.co most often we need to be reminded more than we need to be taught so I’m hoping this free pdf companion guide could be a good reminder tool so make sure to

go to the link I’ll have in the description below to grab your free copy of this free pdf companion guide in addition to the free network tracker my gift to you for taking your precious time to admire my long wavy hair yes I see all your comments about my new hairstyle all right enough with

the hair let’s get back to the CashNews.co number five sign you’re destined to become a multi-millionaire you keep Debt at an arms slung distance in my personal opinion there’s just too much positive talk about Debt use Debt to

multiply your buying power use OPM other people’s money to supercharge your pad to wealth smart people Embrace Debt they’re a great leverage tool and all these talk about how great Debt is can quickly Cascade into the belief that Debt

is normal Debt is acceptable I actually love Debt now I’m not going to go to the extreme to say that you should never borrow borrow money because the brutal reality is that it would be really hard for many of us to afford to buy a house or other large

purchases without it however that doesn’t mean we should embrace Debt and invite a home for dinner like our long lost lover one our partner would not want our long lost lover home for dinner and two once we Embrace that it can quickly spread to other parts of our lives a new

car Finance with a car Loan a time share Finance

with a second mortgage a brand new couch finan with a Rent to Own Furniture so if you’re suspicious of all Debt see them as what it is sometimes useful but dangerous tool to navigate High expense purchases congratulations to you my friend you will go far in life the number

six sign you’re destined to become a multi-millionaire you think before you spend in Carl Richard’s personal Finance book the onepage financial plan he discusses

what he calls the 72-hour rule essentially giving yourself a 72-hour waiting period before pulling the trigger on a purchase now you might not follow the specific 72-hour rule but you do pause and intentionally think before before making purchases when you think of something you need or want you

write it down and think about it you don’t just blindly click buy on Amazon without any thought when the waiter recommends tonight’s special you always ask the price you don’t succumb to social pressure the Exotic Salon from coast of Scotland sounds amazing but it better not be

more than $30 and when you see your favorite YouTuber talking about his amazing visit to the French Countryside you don’t just go out and book the next flight to Bordeaux no you do your research and ensure the cost Falls within your budget before buying the ticket the number seven sign your

destined to become a multi-millionaire you invest I know for those of you already invest this may sound obvious but the truth is that a good chunk of Americans still fail to harness the power of the Stock Market to multiply their wealth and set them on a path to achieving the

multi-millionaire status according to a Federal Reserve study of the consumer Finances only 58% of us households owned the stock in 2022 50% is more than half but to me that

is still not enough because of Inflation money left alone in checking or Savings account will erode in value over time yes I know some highin Savings accounts are giving pretty decent rates these days four five or even 6% but this will not last

forever when the FED decreases interest rate Interest Rates in Savings accounts will follow suit bottom line if you want to achieve the multi-millionaire status one day you must invest so if you’re investing in your 401k funding a Roth IRA and even have a

Brokerage account great job you are rocking it and if you’re still struggling to understand where is the best place to invest your money let me share with you a simple but a winning strategy invest as much as possible in lowcost Broad market index funds here are a few

specific total Market funds with excellent expense ratios if you’re invest with Vanguard the Vanguard Total Stock Market index fund also known as vtsax if you’re invest with Fidelity the Fidelity Total market index fund also known as FSK kax if you’re invested

with Charles swab the swab total Stock Market index fund also known as swt SX if you pick any one of the ones I just listed and invest in them consistently you’re surely on your way to achieving multi-millionaire status the number a sign your destined to become a

multi-millionaire you Embrace failure you Embrace failure as learning and growth opportunities not as something that defines you we all make mistakes I know because I made my fair share of ones in my life six figure student Debt getting a fat car Loan when I could

barely afford a monthly payment trusting someone else with my money because they had a fancy title with words like financial and investment in them and these are just a few that I’m willing to admit to however failures only become failures if we allow them the key with failures are not the

failures themselves rather how we respond to them do we mop around constantly beating ourselves up for our dumb mistakes or do we get up dust off and learn from our mistakes after I got myself into sixf figure Debt I could have just spent years moping around why did I borrow so

much why was I so stupid my life is over I will never Achieve Financial Independence but instead I told myself hey stupid you’ve done dumb things before and you will continue to do dumb things in the future just make sure you’re not making the same mistakes again well how to do that

dust yourself off and learn from your mistakes now that you understand how painful Debt is never put yourself in the same compromising situation again see this financial mistake as a learning opportunity and move on mistakes are some of the greatest teachers and as long as

you’re learning and applying those lessons to your future you’re well on your way to achieving the multi-millionaire status the most successful people are not the ones who never fail but the ones who learn from their failures the numbers sign you’re destined to become a

multi-millionaire you have humility in talking my failures and learning from my failures for me one of the most favorite lessons from failures is that it teaches humility humility to know that I am stupid I will continually fail and I will never know everything and you know what that is okay it is

actually awesome because I can only go up from here I spend a lot of time reading thinking and writing about money I mean that essentially is my full-time job however the more I learn about money the more I realize there’s so much I don’t know and this motivates me to learn more and

share more so if you find yourself realizing every day that you don’t know embrace it celebrate it and let that motivate you to learn more the most important skill for getting rich is becoming a Perpetual learner the number 10 sign you’re destined to become a multi-millionaire you

embrace the marathon you recognize that Wealth Building doesn’t happen overnight it takes time and longer than many people would like but that is reality if you want to build lasting sustainable wealth you have to embrace a marathon the reason I love the Fable of tortois and

the hair and the reason I model this whole channel in that Fable is because I believe full-heartedly that the most of life’s great achievements are accomplished when we approach it like a marathon marathons are not won by short Sprints they’re not won by quick life hacks and shortcuts

you have to keep one foot in front of the other and keep on going for a long period of time enduring the long stretches of mundane ignoring everyone and everything that tempts us to take the shortcut slow and steady down the path of slow progress and if you can do this I truly applaud you future

multi-millionaire thank you guys for watching in the line of embracing Marathon if you want to learn more reasons why I love pursuing slow wealth please check out my CashNews.co here until next time all the best