When I was growing up, a million dollars could set you up for life. While a million dollars doesn’t quite go as far as it used to, being a millionaire is still the exception rather than the rule.

There are lots of millionaires in Australia, so chances are there are a few living near you.

The question is, would you know if one was living next door?

The reality is that most millionaires don’t look like what you’ve been led to believe a millionaire looks like.

It’s usually the case that the people you might think are millionaires are up to their eyeballs in debt and spending every cent they earn to look like a millionaire, while the actual millionaires go about their lives quietly accumulating the wealth that will see them never run out of money.

How do they do it? The key traits of a REAL millionaire are:

1. They spend less than they earn. The key to wealth creation.
2. They pay themselves first! Paying yourself first is a down payment on being able to pay yourself in the future when you decide you’d like to stop working.
3. They use their savings to invest in good quality assets for the long term. Investing is so much easier than most people think.
4. They live in a modest house.
5. They pay off their credit card every month.
6. They pay attention to where their money goes.
7. They plan! Failing to plan is planning to fail.
8. They insure against what might go wrong. Stuff happens! They don’t fail to insure their most valuable asset… themselves.
9. They understand that time does all the work when it comes to investing. Taking maximum advantage of compounding returns makes wealth creation all the easier.
10. They make investing automatic. Investing doesn’t need to be difficult as it’s easy to invest in the right assets every month and make it automatic.
11. They drive an average-looking car. They understand that an expensive car is like a nail in the wealth creation coffin (looking great in a fancy car won’t help pay any bills 20 years down the track).
12. They continually learn. Knowledge is power and the more you know, the more you can make the system work to your advantage.

There are lots of wealthy people in the world, why shouldn’t you be one of them?

Perhaps you just don’t know where to start or who to trust. If you would like financial advice, Wealth Train can help. We don’t sell any financial products and we are one of the few truly independent financial advice businesses in the country.

Take control of your financial future ASAP so that you can make time and money work for you.

Cheers,

Daniel