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Thursday, July 9, 2009

The Rewarding Way to Becoming a Millionaire

By Mitchell Derosa

The pursuit of a wealthy lifestyle is not all fun and games; in fact, if you're not careful, it can be downright miserable. A balanced approach to accumulating money and working hard and smart for it is always preferable to taking big risks in pursuit of a fast dollar.

Life cannot be exciting every minute of every day; in fact, if there's no period of downtime to compare to, nothing can be exciting at all. If the entire focus of your life is on becoming wealthy, you can sap all the other pleasures out of life. While everyone may want to be wealthier, we want to be wealthier for the items and experiences that wealth symbolizes -- not just to see an extra digit on our bank statement. The continual pursuit of wealth leads to destructive and risky behaviors, like gambling and black market dealings. Or you might find yourself so discouraged by your relentless pursuit of wealth that you squander money on meaningless entertainment to try to make yourself feel better. Wealth should be the earned reward of hard work; and the harder you worked for wealth, the more rewarding the experience will be for you.

Although for you to become a millionaire requires more than the magic of genius; it still takes a lot of time, patience, determination and right knowledge for you to be on your way to your first million and beyond. One good way to make it happen is by working hard and working smartly.

That said, working hard does not mean collapsing under the weight of hard labor. It's difficult to gather a significant amount of wealth if you have a strong work ethic but your only outlet is manual labor. So instead of just focusing on working hard, consider how you can work smart. How can your efforts be worth more than just payment for physically showing up? Since you are only one person, it's hard to increase your earnings possibilities if you rely on physical labor alone.

There are some lucky people who make it big quickly through a lucky streak at the casino or an inheritance. However, getting a big sum of money overnight is not as satisfying as it may sound. Because you didn't work hard for it, the same dollar will not be worth as much to you as it would otherwise. You'll be more apt to spend it frivolously instead of on important things. Remember, a one-time financial win makes no promises of future financial rewards, while hard work and dedication are more likely to lead to a recurring revenue stream. It takes most people many years -- decades, even -- to reach their financial goals, but that makes them all the more worthwhile. You must plan for the long-term.

While there's always the chance you won't see your first million, your best bet is to set out on a course of dedicated work and diverse income streams that are likely to continue on in the future. Even before you see a penny of your first million, though, you can begin to develop the kind of attitude and lifestyle that you expect being a millionaire to provide you. You can work hard, develop a strong savings habit, and concentrate intently on your life goals. The road to wealth is a bumpy one, and the stronger your skillset and attitude are, the better prepared you will be for any eventuality. - 23200

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