Ten qualities of millionaires

The qualities of the rich: 10 things that self-made millionaires have in common

Normally these lists are pretty useless but this one I actually agreed to pretty much all of them

 

Sounds reasonable

 

Good article... Can I add one more? Obsessed... Single minded... relentless in their pursuit. Whatever you want to call it. Take for example this forum. I am sure there are plenty of millionaires - at least on paper - visiting every day. I guarantee you, most go to sleep thinking about property, wake up thinking about property and spend good parts of their day reading or talking about property .

 

Even that’s unnecessarily complicated.
What I’ve found to work very well is:

1. Attitude
2. Self Education
3. Action

Most people get the first point wrong and put themselves in an impossible position to become successful.
It’s sad to see how the majority live their lives with a victim mentality.

 

The one quality all millionaires and especially multimillionaires have is the 'H' word. Without it, most wont get far.

Hunger. Hunger to kick ass. Hunger to succeed. Hunger to take consistent action. Hunger to get back up when life beats you down. Hunger which never allows them to give up. Hunger which enables them to do WHAT EVER is necessary to succeed.

You can have some capital and skills. Be super smart. But without the hunger to succeed, it won't happen for the vast majority of cases.

 

If they're Australian, they just bought a house 5-10 years ago

 

I don't think the word millionaire hold its old meaning any more... I suggest decamillionaire as the new standard to be impressed by.

 

Who cares about millionaires; they are two bob a dozen .

I am more interested in the 10 qualities of billionaires .

 

I would agree that one million is not enough any more.
But $10 million is too low.
I believe $100 million would be the equivalent of $1 million in the 60s.
I base this not on inflation but
House prices have multiplied 100 fold
The same % of millionaires in 1960 as worth $100 million today.
Buying power of $1 million then vs $100 million.

 

Agreed.
A lot of people want to kick ass, they want to succeed - but there's a big difference between hunger and want.
But trying to explain this to those people is like talking to a brick wall.
Want becomes hunger when you understand the why.

 

So true.

I think 'Hunger' can't be explained, taught or passed on. Someone will either develop the hunger to succeed or they won't. My dad used to tell me the best set of circumstances which breeds the hungriest people are those coming from severe hardships. Probably why so many successful people in Oz are those from ethnic backgrounds.

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This rule only apply to certain states, or countries

sydney and Melbourne sure you just one among millions (no pun intended)

in america One Million is still allot, considering you can buy houses for 100k, states like new jerse a 4bedroom house is $400k and u still drive/train into manhattan (about an hour or more)

of course than you have Manhattan and San Francisco which is very much sydney and melbourne.

in the UK out side london, 1 million quid is allot of coin...

 

Yes I also read somewhere or heard somewhere we will always need migrants, as they come as hungry as they can be....at least some of us.
My dad did the move to this country for which I will be forever grateful.
He also used to say, "Work extremely hard when you are young so you can have an easier life when you are older otherwise you will need to work extra extremely hard when you are old!".
Somehow this came true for me, luckily I worked extremely hard when young...