A Librarian’s 3 Secrets To Millionaire Status

It doesn’t take six figures to build wealth

Photo by Foto Sushi on Unsplash

Mr Ox wrote a stellar article on how his father retired as a millionaire on a 48k salary (check out the article in the link below at the bottom of this read).

You're incorrect if you think it takes six figures to save seven figures of wealth. People are becoming millionaires on significantly less income with something called Discipline.

It’s never about how much you make; it’s always about how much you keep. You can make tremendous financial progress if you prioritize living below and within your means for long enough.

So what exactly are the three secrets Mr. Ox’s father leveraged to produce millionaire wealth?

1. Save hard

2. Invest wisely

3. Stay healthy

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The Three Secrets

1. Save Hard

It’s extremely easy to spend money you have and don’t have. We live in a world that prioritizes spending money, overconsuming, living in the moment, and keeping up with appearance, but none of these things will produce wealth if you’re living above your means and never saving any money.

A person who saves hard is committed to building wealth. They live below their means, don’t prioritize buying luxuries, and focus on saving and investing their money.

2. Invest Wisely

What is the one thing every wealthy person does? They invest their money. And if they want their money to grow, they prudently invest it. 

What does investing wisely mean, though?

1. Invest early

2. Invest consistently

3. Invest thoughtfully

The best time to start investing is as early as possible, but a later start is better than no start at all. 

Investing here and there isn’t as productive as consistently investing. Invest at full throttle. Don’t take breaks from investing. Instead, consistently invest your resources so they work around the clock for you 24/7.

Investing thoughtfully means doing your due diligence. It means thinking before you invest, studying and learning about what you invest in, and ultimately educating yourself about the world of personal finance and investing so you can make informed decisions about where your money is going.

3. Stay Healthy

This one might not immediately come to mind for many, but if you think about it: Health is wealth. Though you might believe you don’t have complete control over your health, you gain quite a lot of control over your health outcomes by integrating a few things:

1. Clean diet

2. Regular exercise 

3. Healthy amounts of sleep

Living a sedentary lifestyle that focuses on consuming unhealthy food (I know it’s tasty and tempting) will not elevate your health; instead, it will deteriorate it. If you want to promote longevity, treat your body right, and it will likely treat you right.

You mitigate disease and sickness by investing in your health.

What else do you mitigate by caring for your body and mind? Your health expenses.

When your stress levels are lower, you get proper sleep, consistently work out, and eat well, you promote a more robust and healthier body; this decreases your likelihood of getting sick and becoming dependent on pharmaceuticals/medications, which can all be costly in the present and over the long-term.

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Thank you, Mr Ox, for your article: I Asked My Father How He Retired a Millionaire On Just $48,000 a Year

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This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.