#millionaires #immigrants #frugality
Just about anyone can become a millionaire.
The big difference between those that become millionaires, and those that don’t, is ambition.
Statistics show that one in 100 people in the world will become millionaires, with the ratio increasing with time. One in 10 immigrants to the United States will become millionaires.
In a story aired on CBS’ “60 Minutes” May 7, 2017, CNN’s Anderson Cooper reported on the case of Roberto Beristain, a restaurant owner in Indiana who had come to the U.S. illegally 20 years earlier. He is in the process of being deported, despite having a wife and children who are U.S. citizens. Before all this, those who knew him said he was a job creator, not a job stealer. It appears he was well on his way to becoming a millionaire.
Master investor Warren Buffett, in his February 2017 letter to his Berkshire Hathaway investors, praised “ambitious immigrants” for helping to increase the wealth in America, according to USA Today.
So why are immigrants being demonized?
In certain public discourse, immigrants are described as either moochers, job stealers or potential criminals or terrorists. Certainly, among any human group, you’ll have bad apples. You will have people who will do others harm, or take from others.
The vast majority of immigrants come here either for economic opportunity, or to escape violence, corruption or other evils in their home countries.
When opportunities are given to immigrants, most take advantage of them. They work hard, they learn what they need to do and many of them look for unmet needs and find ways to meet them.
Some come here for education and, yes, stay. They fill lucrative jobs that American talent apparently is not filling. Some do menial jobs that Americans, in large numbers, will not do. In those cases, the immigrants may not be educated, but they have skills Americans, in large numbers, chose not to acquire.
They are creating products that Americans use. Most pay taxes.
When all the immigrants are gone, what will Americans do? Will they be able to fill the jobs they have vacated?
Some areas of the country have seen their populations decrease, because the young people who grew up there see no opportunity for them to succeed. These areas actually want immigrants to move there, to fill vacant housing, and take unfilled jobs.
So, do you want to become a millionaire? It’s not necessarily easy to do, but you have to find an unmet need, or a met need of which you can lower the cost.
You have to be frugal. You have to save and invest properly. Becoming a millionaire may not be an instantaneous process unless, of course, you win the lottery. If you are so lucky, learn to use your money wisely, so you’ll still have a good bit of it when you die. That may require you to grow as a person, as well as having a good investment strategy.
You may have to look for a vehicle to help you become frugal, and perhaps help you to increase your income. To check out one of the best such vehicles, message me.
Millionaires generally are careful with their money. They are looking to spend less, earn more and do what they must to achieve their goal. They do not believe anyone owes them anything they have not worked for.
Do you want to be a millionaire? There’s a difference between wanting it, and doing what you need to do to get it. Most millionaires don’t work for the money. They work for what they can accomplish with the money.
Dolly Parton sings of “a cup of ambition” in the theme for the movie “9 to 5.” You may need more than a cup of ambition to be among the one in a hundred millionaires.
#millionaires #immigrants #frugality