#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.
Peter
Tag Archives: Warren Buffett
HOBBIES, LUCK AND FORTUNE: PART 1
Debbi Fields loved to bake chocolate chip cookies. Little did this California housewife know that her hobby would become a big business – Mrs. Fields.
Ken Hannah started a steak house restaurant in Massachusetts. But it was his homemade salad dressing that would become his empire – Ken’s salad dressing.
We often dream that our hobbies, our passion or something we create would earn us great wealth. It happens rarely, so most of us have to be content with just loving our avocations. If we turn them into an income stream, that’s a bonus.
But there is hope for all of us – even those who don’t yet have avocations about which they are passionate. It’s the greatest anti-poverty program in the world for two reasons: it makes average people wealthy AND people get wealthy by helping others get wealthy. It’s known as network marketing.
Robert Kiyosaki, with Sharon L. Lechter, in the series of “Rich Dad, Poor Dad,” books, has written a book titled “Rich Dad: The Business School For People Who Like Helping People.” In it, he shows that it’s not the invention itself that makes one rich. It’s the network by which that invention is distributed that makes people rich.
Debbi Fields and Ken Hannah invented something special, but didn’t become rich until that invention was widely distributed. In network marketing, the product(s) have already been invented or created. The average person gets rich by building a network to distribute that product. Here’s the beauty of it: you don’t have to build these networks through anything other than talking to others about it, and showing it to them.
Kiyosaki did not build his fortune through network marketing. But through his research, as his book states, he’s become a fan. Why? You see, many people get rich AT THE EXPENSE of others. They use others’ labor and others’ talent to enrich themselves. Those who made them rich get very few of the spoils.
Through most legitimate network marketing companies, one cannot get rich unless he helps others do the same. Anyone can do it, yet, network marketing is not for everyone, Kiyosaki says. Donald Trump and Warren Buffett also have invested in network marketing companies.
To do anything well, you have to believe in what you are doing. Belief turns to passion. Passion oozes out of you as you talk about your product, and recruit others to work with you. Those who are looking to change their lives will see that passion in you, and want to follow you. The passion becomes contagious, and the people who see your passion and join you, become passionate themselves and attract others. That cycle builds networks that can make everyone in it rich.
Why is it not for everyone? There are lots of folks who NEED something to come into their lives that will change it for the better. But not everyone LOOKS FOR IT! Many are content enough with what they have, even though they envy others who have more. Many others are clearly not content, but even if you put a fortune in front of them, they will never see it. Still others see it as too good to be true, and are so skeptical they won’t get near it – no matter how well they know you, and no matter how passionate you are. To borrow a phrase from the U.S. Marines, you are looking for the few, who will ultimately become the proud (and rich). Along the way, you’ll find the many who will not.
There are many good network marketing companies out there. To check out one of the best, visit www.bign.com/pbilodeau. How will you know that the one you are shown is among the best, and won’t burn you? You can do your own research, of course, but here is your first clue: is the person showing it to you SHOWING, rather than SELLING? How will you know that? He’ll take NO for an answer, and walk away.
He may update you periodically on how he’s doing, if you show some interest, but he won’t keep bothering you. Remember, he’s interviewing you for his business. He’s not looking for any special talent. He’s looking for desire and interest. Sure, he may sell you a product that you will use anyway, and may not want to sell yourself. But he’s really looking for business partners.
The next time someone you know – or perhaps someone you don’t yet know – offers to show you something that they say could change your life, check it out. Say no if it’s not for you. Say yes if you believe it is. But unless your life is so good that you don’t need a change, take a look. Then, decide.
Peter