You know, it’s funny if you think about millionaires. Did you know that a majority of millionaires literally “thought” their way there by saving and spending less than they earn? It’s easy to come up with excuses for why you can’t earn your first million, but I don’t want you to become part of this crowd in 2012. I want you to break away from the herd and 
pave your own path toward your first million. 2012 is the year you start getting serious about your finances and achieving your goal of becoming a millionaire.
OK, so you’re excited to become a millionaire, but to get there, you need an action plan! I’m officially challenging you to follow the next few steps in 2012. Write them down if you have to. Read them every day. It’s going to take a 180 in your mind for this to happen. Let’s dig in:
Earn more income
It’s not good enough to stick with your current salary or hourly wage in 2012. Shoot for the stars and get yourself a raise. With rising inflation and an uncertain economy, earning more money is now more important than ever! If a raise is out of the question, stop relying on your employer. Make 2012 the year you start your own side business. It could be a simple side gig walking dogs on the weekends and could be as involved as launching a new blog. Whatever your passion is, follow it and the money will follow. Make it your priority to increase your income this year. No excuses, play like a champion.
Live within your means
Enough with the “I’ll pay it off next month” mentality! In 2012, you’re going to stop thinking like this. No matter your situation, if you can’t pay cash for something, don’t buy it. What’s the point of trying to look like a millionaire when you’re actually in debt? It’s time to hit the Ross’s and Marshall’s of the world, folks. Check your pride at the door because you’re going on a mission in 2012. Start with the little things in your life. Do you own too many cars or too big of a house? How many credit cards do you have? Perform an inventory and give yourself a grade. Once you have your grade, start taking steps toward an A+ grade. After a while you’ll get into the habit of living within your means. The hardest part is taking the first step. Take that first step in 2012.
Diversify your investments
If you want to avoid the financial ruin that so many Americans have gone through in the last couple years, you’re going to need to diversify. Diversification of your assets is essentially reducing your risk, thus creating a better opportunity to reach your first million. If you haven’t already, open a Roth-IRA or invest your money with Betterment. Whatever you choose to do, pick some low cost index funds and start investing for the long haul. Remember to keep a bond percentage that makes sense for your future, keeping in mind the timeline for all of your investing goals. You shouldn’t take any unnecessary risk.
Automate everything
Look, part of the problem these days is too much involvement in finances. Instead of wondering if you’re investing enough or covering your bills, why not automate everything so any money left over is spending money? Going into 2012, I want you to think about what you can automate. What about your 401k and Roth-IRA plans? Put those on autopilot so your future million is secured. Assuming this money is being invested in a diversified portfolio, your first million will be easy if you don’t even have to think about it. The same goes with expenses and bills.
Ignore the noise
Much of the success of numerous millionaires comes from the habit of ignoring the noise. What do I mean by this? It’s things like business television, avoiding instant gratification in stores, and owning your vehicles instead of taking out loans. In 2012, I want you to ignore CNBC, turn off the news, and focus on increasing your wealth instead. Stop worrying about the day to day market trends and attempting to “strike it rich quick.” Slow and steady wins the race towards a million dollars. Ignore what your neighbors are doing and avoid “following the herd.” Pave your own path to success and go about it quietly. A million bucks is closer than you think.
Going into 2012…
Take these steps and start developing your action plan. Stop stalling and following the crowds, it’s time to start thinking long term in 2012 and achieve your dream of becoming a millionaire by retirement. Who’s with me?!
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