Do you have what it takes to be a millionaire?

Yahoo Finance

Do you have what it takes to be a millionaire?

Now watching

Next video starts in : 7 Play

Do you have what it takes to be a millionaire?

Do you have what it takes to be a millionaire?
Replay video
Up next

Janet Yellen’s dilemma: No way out

Janet Yellen’s dilemma: No way out Up next

Janet Yellen’s dilemma: No way out

Jaime Tardy has wanted to be a millionaire since she was just a kid. For her blog and book, "Eventual Millionaire," she interviewed over 130 people with a net worth of at least $1 million to find out what sets them millionaires apart, to come up with a recipe for the millionaires' secret sauce.

Tardy drilled down on some key traits and behaviors that her millionaires had in common and that helped propel their success. Here's what she had to say:

Millionaires set and attain goals
One of the key things that millionaires do... is they set goals. And not just set goals as far as thinking about them, they actually write them down and really pay attention to them so they keep making progress. And as soon as that goal is done, they set a new goal. So they’re constantly moving forward by using goal setting.

Millionaires value experiences over possessions
Don’t get me wrong, once they have an excess of money, they definitely will get some stuff, too. But that’s not what they value. The thing I found really interesting is millionaires knew what they value ahead of time. If they do care about lattes, they’ll go ahead and get a latte, but it’s mostly about the experience..." It’s usually about spending money on what they really, truly value.

Millionaires invest in themselves
One of the very common themes was investing in themselves, whether that be time, putting time back into themselves and growing and learning, reading. You know, looking at those pieces of themselves that are maybe not as good and trying to figure out ways to make them better. All those things really made a big difference in growing as a person, which also help them grow their net worth.

Millionaires aren’t pursuing money
Money wasn’t a driving factor for them.... In fact, it was the opposite. They wanted to help more people, really get out there and change the world, better things and improve themselves or their business or whatever they’re doing. So, it’s not necessarily, "Oh, it’s the money" that’s the driving factor. They really cared about the rest of their life being absolutely wonderful, and as a result, they got the money.

Rates

View Comments (212)