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How to Avoid Being a Middle Class Millionaire
A million bucks ain’t what it used to be
In the United States it used to be a rarity to be a millionaire, but with the housing boom more millionaires were made.
Homeowners over 50 years old in America are now millionaires.
I’m over 50.
I own a home.
Which means I’m a middle class millionaire, but you don’t want to be me.
You should want to be better than me.
Your Goals Need to Be Bigger
Your goal shouldn’t be a millionaire, it should be to build generational wealth. That’s real wealth that you can pass down to your children and your children’s children. It’s about making a legacy.
Creating wealth (not money) is a BHAG (Big Hairy Audacious Goal) according to James C. Collins.
Pursuit of this goal should be your number one priority. If you calibrate your thinking and center on achieving this crazy outcome — you expand your view of the world. Little things don’t matter since you see the bigger picture.
For example — you can get a high yield savings account at around 4%, but if you can take this money and invest it in yourself to learn how to start a business you’ve started down the path to a bigger…
