by Terry Marsh

Created on: April 28, 2009

People dream of living a life of wealth and abundance. They imagine beautiful homes, exotic vacations, expensive cars, and a life free from the everyday stress of budgeting monthly bills and expenses. They dream of becoming a millionaire, and all of the comforts and privileges that come with it. But most people only dream, never taking the initiative to make their dreams become reality.

Some Millionaire Statistics

Becoming a millionaire is not as impossible as people think, but let's first clear-up some popular misconceptions about today's millionaires. In the book "The Millionaire Next Door", by Thomas J. Stanley, Ph.D, and William D. Danko, Ph.D, today's millionaires live much different than what many people think.

- 75% of today's millionaires are self employed entrepreneurs. Few people become wealthy by working for someone else. Some career choices do lead to financially rewarding lifestyles, but the top earners in those professions are the exception, and not the rule. For instance, the average attorney with 20 years of experience earns $113,462 yearly.

- 80% of U. S. millionaires are first generation affluent. Contrary to popular belief, most people are not born into wealth. They earn their money the old fashioned way, they work for it.

- 66% of today's millionaires work 45-55 hours a week. People who are passionate about what they do invest time into their businesses, and into increasing their wealth.

- Most millionaires live well below their means. Only a handful of millionaires drive a current model year automobile, and few millionaires lease them. Few millionaires wear designer suits or extravagant jewelry, and the average millionaire invests about 20% of their income.

- Most millionaires earn their money over a lifetime. Only a small percentage of people become "instant" millionaires by signing a professional sports contract, or by winning the lottery.

The Millionaire Mindset: Take a Personal Assessment

Do you really have what it takes to become a millionaire? Too often, people want to achieve the results without putting in the effort. Becoming a millionaire takes commitment. There is a commitment of time, a commitment to learning, a commitment to going above and beyond the call of duty, and a commitment to not giving up when the journey becomes difficult.

Taking a personal assessment of your strengths and weakness requires insight and soul searching. Be honest about your ability to move beyond disappointment, what you've accomplished in the past, where you

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