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Author: Jack Reynolds Article source: http://www.netmoneyexchange.com/. Used with author's permission.
What is the quality that creates a millionaire. If you really think about this, you will see that its not brains or hard work. The problem is always momentum. We discover an idea that really makes sense to us, we resolve to act on it. Within a short time we experience some small success, then what happens? We just get complacent!
What is it that you really want? To read about it or to do it? Are you impatient to get started? Are you indiferent? The thing about wealth is that its worth less intrinsically the longer it takes. A million dollars over night is life transforming. A million dollars over a life time of hard work, sweat and toil is simply mundane and uninteresting. Just enough money to pay for the retirement home.
There are as many ways to make a million dollars within say 12-24 months as there are dollars in 1 million. Your job is to pick the most expedient and suitable for you right?
Theres nothing like CASH to motivate a millionaire apprentice. So here's what I'd like for you to do.
Make a list of your core skills. Order them from most proficient to least proficient. Then make another list of top current interests, that you can see yourself being fascinated with for the next 12-24 months.
The ones that make the most sense are going to be where you look. What you are looking for is a market that you know well and are interested in.
Compounding money is not hard. Becoming a record CASH millionaire is not too difficult. Its elementry if you perform the correct actions consistently over time.
So what ARE the correct actions and how long will it take?
The answer to this question is simple.
Get a calculator and punch in $500, now multiply it by 1.3 which is 30% Count how many times you have to multiply until you reach 1 million dollars. Thats right, 29 times.
If you can find a product (investment object) in a market you have an interest in and have some skills in, that is below value. An object that is worth $650 that is for sale for $500 then you have your first step out of the 29 steps that will make you a record cash millionaire. (because 650 is 30% more then 500)
Sell it for a 30% profit and find the next one, only 28 steps to go right? Doing this at the lower levels, its very easy to accumulate 10-20 thousand dollars within a few months.
But to make that million, you have to get into Real Estate eventually. Thats where the leverage and compounding is.
Most of your money will come from the last 4 or 5 steps. This is an exciting, interesting, way to become a record cash millionaire.
To your health and rapid success. Jack Reynolds enjoys offering valuable insights about wealth creation. If you want to discover how to build your own money machine and you dont have much money to start with then follow this link http://www.opportunity-investor.com
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