Everyday Millionaires Book Summary

Everyday Millionaires Book Summary Preview

At some point, you’ve probably wondered how millionaires are so successful. There are many books and seminars dedicated to teaching people about how to make money, but sometimes those just don’t cut it. What if you could ask 10,000 American millionaires questions about how they became successful? That’s exactly what Chris Hogan, writer of Everyday Millionaires did. Here are some tips on how to make a million, from people who really know what they’re talking about.

Millionaires believe in their ability to make millions

Chris Hogan grew up with an unshakable belief that he could be a millionaire, even though his dream seemed far fetched. He was a young African-American with a single mother who grew up with little money in Kentucky. However, in spite of his surroundings, he had an unshakable belief he would be able to earn a large fortune, and he did.

Without belief in one’s ability to do something seemingly impossible, the impossible could never be done. Take for instance British distance runner Roger Bannister, who ran a mile in 3 minutes and 59 seconds, in spite of universal acceptance that this was impossible.

Becoming a millionaire is similar, though fortunately it doesn’t usually involve running a mile that fast. You will not have the ability to earn money and to take the steps to do so unless you believe in your ability to accomplish it. There are almost 11 million millionaires in America today. You can be one of them, but first, you must believe. This belief will need to be strong, because setbacks will happen. If you continue to remind yourself that achieving your dream is possible, it will be. Not only does believing in yourself help you stay optimistic, but it also prevents you from making excuses that will cause you to miss future opportunities. 

Millionaires are hard workers 

People often think, when they see others with great fortunes, that they didn’t earn them or that earning them wasn’t a challenge. This simply isn’t true: people who earn millions of dollars do so through hard work. 79% of the millionaires interviewed didn’t earn their money through landslides or family trusts, they got them by working hard.

For instance, Thomas grew up in poverty with two alcoholic parents. He got a Ph.D. in math and went on to become a teacher. He invested wisely, was careful with his spending, and retired after 37 years to $2.6 million. His consistency in practice is very reminiscent of Michael Phelps, who swam every day for at least six hours pre-Olympics. His hard work and consistency paid off, just as is did for many of the millionaires surveyed, and so can yours. 

Millionaires avoid high/low risks

Though movies like Wolf on Wallstreet might make it look like millionaires all take big flashy financial risks, that simply isn’t the case. In fact, many millionaires that were interviewed said they avoided high-risk financial options. This includes things like single stocks and cryptocurrencies: they’re too high risk. Millionaires also avoid things that are too far on the low end of...

Please login to access the full text and audio summary for FREE

Users get access to two FREE summaries. Become a pro user for unlimited access.

Login

Congrats! You've unlocked a 50% discount. Use coupon code WELCOME for 50% off Sumizeit Premium.

Save time with unlimited access to text, audio, and video summaries of the world's best-selling books.
Become a pro user