8 Keep in mind that the average millionaire is not who you think he is. The frugal rich stay richer—if you do not believe this, think of all those high flying celebrities who end up with their homes in foreclosure or selling their tell-­‐alls on TV to pay for all that Cristal and all those houses. The famous IKEA owner drives a Volvo. HSBC’s chairperson famously goes around the main office turning off all the lights long after the employees have left. The stories go on and on. The rich do not live the lifestyle of the rich—they stay rich because they are frugal at heart.

9 Assess your income and what you can do with it. 80% of modern millionaires were able to get there on annual incomes of $55,000 or less. Even meager savings eventually add up to thousands or millions of dollars.

10 When you look at a job, always know how much the head honcho gets paid because this will later affect your income in terms of promotion, benefits and future potential earnings. If you are gunning for a six figure salary and the current CEO is getting by on $300,000 a year, then maybe the job is not for you.

11 Find alternative ways to generate income if you are unhappy about your current level of earnings or the amount of the salary you currently have. This can mean looking for other employment or this can mean starting a cottage industry business, learning to invest, buying and selling online or any number of means to add to your nest egg.

12 Create forms of passive income, the type of income that you receive with little to no effort. Examples of this include: rent from property you own, licensing patents or dividends and returns from investments. Passive income can come from many sources. Exploiting the business possibilities of the Internet through blogs or sales from eBay or Amazon is one way to add to your income with minimal effort. The truly wealthy prefer passive income anytime. It frees up time for you to do what you want, even while you earn.

13 Be diverse. Create streams of income, do not rely on one large river. A job that pays $3M is great, but an accident or sudden layoff can cut you off. Think outside your salary. A job paying you $1M a year, plus real estate profits that amount to $1M and another $1M from stock is a far easier and safer thing to manage.

14 Learn to hold off gratification. A wealthy person knows how to delay gratification and sacrifice the now for later. This often comes with a positive attitude towards work and wealth, such as: “If I invest now, I will make 10% more later.” The wealthy do not think of now, they think of the future. The present is merely an opportunity.

15 Change your mentality about spending. Do you really have to have that shiny object now? The truly rich hold off gratification, having what is trendy, popular or a must have today may not last until tomorrow.

16 Never be frightened of failure.

17 Be realistic. Growth and wealth do not appear overnight, unless you are lucky enough to win the lottery or find long lost treasure. Investments need time to mature and savings need time to accumulate. Patience will be well
rewarded. The wealthy know that scrimping now will lead to better results in the future.

18 Create a sense of urgency in your life. Do not wait for things to happen to you. You may think that you are playing safe by waiting around or looking for the next big deal. This is the financial equivalent sitting around. Take risks, invest, start the business now. Seize opportunities the moment they happen. The first to get there often wins, leaving the losers in the dust. Taking stock of what you have right now can have some advantageous surprises. For one, you may find out that you have more than you think. Second, it gives you a clear cut place to start and helps you find balance as well as set goals. After all, you cannot move forward without knowing where you come from.