Wealth Management - Getting Your First Million

Getting Your First Million

The Millionaire Mindset

Do you think you can achieve a millionaire status? If your answer is YES, good for you because that is how a confident soon-to-be millionaire would answer. Positive self-affirmation means you are a bold forward thinker who has the attitude to succeed because when it comes to attaining your first million, you gamble on hard work, ingenuity, skills and the right mindset.

Our obsession with telenovelas that usually portrays a stereotypical character based on their fortune or lack thereof, has shaped the perception that poor people are good and oppressed while the rich people equates as evil and greedy. There is also the cliché portrayal where a poor person attain wealth through luck (apparently) while the rich person accumulates money through devious means. There are also reality game shows and national lottery that lure the possibility of winning big by betting on luck. Avoid this mentality at all cost! Instead, bet on yourself!

Your attitude towards money to how that translate to your success takes a great deal of mental and emotional strength which you need to recognize from the beginning. Follow this millionaire’s habits and behaviour to help you attain that millionaire status. Read on!

THINK LIKE A MILLIONAIRE

Act as if you already are a millionaire. What would you do to keep your riches? How would you make your money active and growing? What financial instrument will you use to keep the money flowing? Will your lifestyle change? Read and learn from the true millionaires to find out what you can apply on yourself.

Warren Buffet, the third richest man in the world bought his first investment stock when he was 11. And he also still lives in his humble home in Omaha, Nebraska.
So while you think you can buy everything, a true millionaire only spends on things they need and not what they can afford.

Walt Disney once said, “I don't make pictures (movies) just to make money. I make money to make more pictures (movies).” It is not all about money, it is about making use of money to create better things.
So invest on a hobby that you can be great at or something that you are passionate about.

Abby Watabe is the Filipino-Japanese owner of the luxury karaoke chain Karaoke Kan, made famous by Sophia Coppola’s 2003 film Lost In Translation. Her rags-to riches story is similar to the classic Cinderella fairy-tale. But she did not reach her millionaire status just by being the beautiful wife of a businessman, she did so by learning and managing the business on her own.
Did we mention that her business has now 135 branches all over Japan?

MILLIONAIRE TIP 1: THE GOLDEN RULE

Wealthy people develop the habit of “getting rich slow” rather than “getting rich quick."

ACT LIKE A MILLIONAIRE

Stay humble, hustle hard. Modesty goes a long way in your journey to getting your first million. You will meet interesting people that will help you achieve your goal, be sure that you are on your best self. While a dose of ego isn’t bad, that ego is self-confidence in action. You need it to take on the world especially when you need to make a circumstance work to your advantage.

A millionaire’s time is gold so avoid procrastinating as things has to happen continuously the moment you commit. It may take a while to get that first million and working for salary will take you forever to achieve that goal so create your own opportunities. Play the field and take risks: invest or start a business, take a few stocks. The point is, keep going until you reach that one million richer mark.

MILLIONAIRE TIP 2: LIVE OUTSIDE THE BOX

Take a risk. Make mistakes and start over. Repeat.

FEEL LIKE A MILLIONAIRE

What better way to intensify your mind-set than be fuelled with music that drives your energy to succeed? Amp your millionaire game with some power tunes, listen to our choice picks and keep it on loop!

RISE David Guetta ft.Skylar Grey
BURN Ellie Goulding
GOOD LIFE Kanye West
BILLIONAIRE Travie McCoy, Bruno Mars
ROCK STAR N.E.R.D
DIVA Beyonce
POWER Kanye West
LET ME BLOW YA MIND Gwen Stefani ft. Eve
MONEY ON MY MIND Sam Smith
INDEPENDENT WOMAN PT 1 Destiny’s Child
HUSTLE HARD Empire Cast ft Jim Beamz
MO MONEY, MO PROBLEM P Diddy
SUPERWOMAN Alicia Keys
MONEY FOR NOTHIN’ Dire Straits
MISS INDEPENDENT Ne Yo

MILLIONAIRE TIP 3: REMOVE FEAR & DOUBT

“Most people have doubts, fears and overall lack of belief about earning money before they’ve actually done it. Once you have achieved something unusual, the doubt and worry disappear. There is confidence and calm that comes after that first million which will also make you feel like your potential is endless.”

Steve Siebold, author of The Mental Toughtness for Fortune 500 Sales Teams

BE A MILLIONAIRE

Remember like attracts like so if you consistently think prosperous thoughts, prosperous opportunities follow. Keep a keen eye of your money goal and identify strategies in earning, saving, and keeping your money.

Here are two simple formulas that you can work with:

50-20-30

NO, IT’S NOT A LUCKY LOTTO COMBINATION BUT YOUR BUDGET SPLIT GUIDE WHERE:

50% covers all your fixed costs likes bills and expenses,
20% goes to your savings, investment fund, emergency fund or retirement money and
30% is used for your daily living expenses.

Income – Savings = Expenses

A simpler version where 20% of your savings is deducted from your income. All the rest are for your financial expenses.

MILLIONAIRE TIP 4: DIFFICULT DOESN’T MEAN IMPOSSIBLE

“The world loves to tell you how difficult things are, and the world’s not exaggerating. And that’s a real bummer. You can’t have it all, and nothing comes easy. But difficult doesn’t mean impossible, and out of the bajillions of things in this universe that you can’t control, what you can control is how hard you try.”

Sophia Amoruso, CEO of Nasty Gal and author of #GirlBoss

Earning that first million maybe a daunting task, but that is part of the process. The right mind-set is the key factor in attaining your millionaire goal. While you ponder about how you can make your savings grow to millions, check out our investment-linked products and find what suits you best!

SOURCES

Steve Siebold (2015), The Psychological Reasons Why Earning Your First Million is the Hardest, http://www.businessinsider.com/the-psychological-reasons-why-earning-your-first-million-is-the-hardest-2015-5
Firras Kittaneh (2015), 4 Smart Money Habits to Help You Earn Your First Million Dollars, http://www.entrepreneur.com/article/245119
Kathleen Elkins (2015), 22 mind-blowing facts about Warren Buffett and his wealth, http://www.businessinsider.com/facts-about-warren-buffett-2015-9
Ed Umbao (2013), Abby Watabe’s Rags-To-Riches Story of Filipino in Japan, http://philnews.ph/2013/12/14/abby-watabe-rags-to-riches-story-filipino-japan-video-interview/
Sophia Amuroso (2014), #Girlboss
Laura Shin (2014), How to Budget Your Money With the 50/20/30 Guideline, http://www.learnvest.com/knowledge-center/your-ultimate-budget-guideline-the-502030-rule/

HOW CAN WE HELP?

In any real life goal you want to achieve - live healthier, start a family, travel the world, or put up your own business - you need the right plan to go with it. Select from our array of life insurance plans and let us partner with you to reach your dreams.

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Getting Your First Million

The Millionaire Mindset

THINK LIKE A MILLIONAIRE

MILLIONAIRE TIP 1: THE GOLDEN RULE

Wealthy people develop the habit of “getting rich slow” rather than “getting rich quick."

ACT LIKE A MILLIONAIRE

MILLIONAIRE TIP 2: LIVE OUTSIDE THE BOX

Take a risk. Make mistakes and start over. Repeat.

FEEL LIKE A MILLIONAIRE

MILLIONAIRE TIP 3: REMOVE FEAR & DOUBT

BE A MILLIONAIRE

50-20-30

Income – Savings = Expenses

MILLIONAIRE TIP 4: DIFFICULT DOESN’T MEAN IMPOSSIBLE

HOW CAN WE HELP?

Money Tree Elite

0 to 75 YEARS OLD

UNTIL 100 YEARS OLD