This question are for millionaires only (worth 2 millions plus in assets)?

Question

What are the two important factors that made you rich?

Answer 1

understanding tax laws, and staying single.

Answer 2

Hard-work

Smart investing.

And a third one is being frugal.

Get a decent job, save 10-20% or more of your salary.

If your company have a 401k contribute to it as much as you can.

Get a Roth IRA.

Invest the rest into a 40% bond and 60% stocks mixture.

Invest diversely, invest in ETFs, mutuals funds and a few individual stocks in many sectors of the stock market.

Some tips to keep your money, never take stock tips, from anybody, even warren buffet (billionaire stock investor).

Don't invest in pyramid schemes (basically you make money by getting more people involved.

If an investment seems to good to be true, it most likely is and stay away.

Answer 3

Inherited wealth and a trust fund.

Answer 4

Spend less than you earn

Don't have children

Answer 5

-Hard work

-Good knowledge of finance and how it affects your money (ie: making sure you legally shelter your investments form as much tax as you can, investing wisely, understanding the power of compound interest and the terror of consumer debt)

And no, I'm not a millionaire (yet!) but I will be, shortly if I have anything to say about it.

There's two books about this subject that you can find at

http://www.btgnow.net/pages/reviews.html

One is The Automatic Millionaire by David Bach

The other is A Million Bucks by 30 by Alan Corey

Good Luck!

Answer 6

I don't fit the criteria, but my dad sure does, so I asked him about it. He said "Just work hard and follow the rules; it can get boring or tough at times but if you work through it, you'll come out well in the end."

Answer 7

I'm going to be honest with you mate and tell you exactly how it is, everyone wants to be rich but not everyone has the bottle to make that dream come true. Most people placate themselves with the big car, fancy house, expensive clothes and the best food. They however fail to realise that by doing so they're stopping themselves from ever retiring early or retiring with enough money to truly live the life they want to lead. I've been a very frugal person over the years and it's only now that I'm starting to spend my money, whilst I don't quite have the £2 million your talking about, I might just pass that point in the future.

Best wishes.

Answer 8

that illiminates everyone! -.- and you're not going to get rich asking questions on yahoo answers!  nobody with 2million+ dollars would waste time on here -.- how do you think they got rich!? it wasn't by sitting around their computer that's for sure