Who Wants to Be a Millionaire?

Who has a Millionaire Mindset?

Do you dream of reaching the millionaire milestone? Turn your vision into a reality by opening your mind to new possibilities and establishing a millionaire mindset.

The number of millionaires across the globe is rising, and Americans are leading the charge. There were at least 62.5 millionaires at the end of 2021, according to a report from Credit Suisse, an investment firm. High housing prices and investment portfolio gains helped households in the United States add the most wealth last year, followed by China, Canada, India, and Australia.

Attaining the coveted millionaire status does not require winning the lottery or having a record-breaking night at the blackjack table. At least 72.5% of individuals with a net worth of $30 million are “self-made” millionaires, according to a study conducted by Wealth-X, a data research firm. These millionaires started as regular joes who built wealth by developing the right mindset, maximizing savings, and diversifying their investments.

Before you swing by the gas station to buy a scratch-off ticket or place a bet on the ponies, consider a safer alternative. TES coaches rely on strategic, personalized coaching methods to help people find a path forward. Our network of 100-plus coaches can guide you as you chart a new course to achieve your financial aspirations.

Develop a Millionaire Mindset
At the top of your list for attaining millionaire status is to change your mindset. Attitude is everything, and developing a millionaire mindset will enable you to reach your financial goals. Here are some of the characteristics of people who have a millionaire mindset.

1. Goal-oriented. The first step to achieving a millionaire mindset is to understand your career and financial goals. Career coaching can help you determine the best path for you to achieve your vision. Our coaches help people define their Income, Lifestyle, Wealth, and Equity™ goals.
2. Determined. Drive, ambition, and a willingness to work hard can lead you to become a millionaire. No one achieves success by settling for the status quo or doing the bare minimum to get by. People with a millionaire mindset have a passion for their careers and are willing to invest energy in their future.
3. Confident. People with confidence do not focus on negative thoughts or self-doubt. They experience less fear and anxiety, which keeps them on the lookout for new opportunities and instills them with the courage to act outside of their comfort zone.
4. Open to possibilities. Establishing a millionaire mindset requires people to keep an open mind to alternatives outside of corporate America. Achieving self-sufficiency and financial freedom is an important component of honing your millionaire mindset. Howard Schultz started his career as a Xerox salesman before taking a risk with a small coffee shop and making Starbucks a household name. Peggy Cherng left an engineering job in 1982 to launch Panda Express, a 2,200-unit Chinese fast-food chain. Diane Hendricks sold custom homes before co-founding ABC Supply, one of the nation’s largest wholesale distributors of roofing, siding, and windows. All three of these self-made leaders were willing to think outside the box and keep an open mind to the possibilities of a better future.
5. Patient. Achieving a millionaire status takes time and hard work. The average age of millionaires in the Wealth-X study was 64 years old. But, with hard work, tenacity, and the right mindset, making a million is possible.

Diversify Your Portfolio.
Once you are in the right state of mind, max out your retirement savings and analyze your portfolio. If all of your investments are dependent on the stock market performance, you may want to rethink your strategy.

Becoming a millionaire doesn’t require you to work round-the-clock or drastically cut back on spending. Taking charge of your destiny by investing in a business can help turn your vision into a reality. Entrepreneurship enables you to attain self-sufficiency and control your destiny.

The franchise industry is filled with small-business owners working to achieve their financial goals. Investing in a business with a proven track record of success, coupled with the guidance, support, and training of an industry leader can help send you into a higher income bracket. TES coaches use an education-based approach to help people determine if they want to find a new corporate role, start a business from scratch, or invest in a franchise.