 How long does it take to get rich? How long does it take to get rich is one question a majority of us have in common. Because the reason we work so hard today is to gain financial freedom someday in the future. However, because someday in the future isn't specific, it can get a little discouraging trying to wait for that someday that never seems to arrive at the time we want them in our lives. On the other hand, we motivate ourselves to move on when we see or hear about a self-made millionaire who landed themselves that position by setting goals and passionately doing their jobs well. We say to ourselves, if they can make it that far, then I can also make it. If we claim to be that motivated and ready to push ourselves until we achieve our goals, why then do we get frustrated and sometimes consider faster but legitimate ways of making money? I'll tell you why. It's because there is no time attached to our goals. We only know that we want to become millionaires in the future, but we often forget to define the future in terms of how long it takes to become a millionaire. In today's video, I'll share with you how long it takes to become a millionaire. This, I believe, will help you become a successful person. If you're new here, consider subscribing so that you won't miss other interesting videos like this. Who is a millionaire? As defined by Wikipedia, a millionaire is an individual whose net worth or wealth is equal to or exceeds 1 million units of currency. It can also be a person who owns 1 million units of currency in a bank account or savings account. Do you want to know the truth? Warren Buffett, an American business magnate and investor, who is considered one of the most successful investors in the world, with a net worth of 82 billion US dollars as of July 18, 2019, said, it is pretty easy to get wealth to do slowly, but it's not easy to get rich quick. So, if we're going to talk about how long it takes to get rich, a good place to start will be, there is no such thing as overnight success or millionaires. Success takes time, even Buffett confirms that. I'm not saying that you can't get rich fast, of course not. The get rich quick or get rich fast is not a myth, but when people promise you to become a billionaire overnight or to make your first million in three months, then they are absolute liars. You can become rich fast, for instance, say in five years if you diligently apply the laws of success. Accumulating wealth takes time because contrary to what we think, it's not how much money one earns that makes them a millionaire but how much money they save and invest annually. David Bork, an American financial author, television personality and entrepreneur, said, how much you earn has almost no bearing on whether or not you can and will build wealth. Regardless of the size of your paycheck, you probably already make enough money to become rich. Also, according to Ramitz Set, an American personal financial advisor and entrepreneur, an author of I Will Teach You to Be Rich, on average, millionaires invest 20% of their household income each year. Their wealth isn't measured by the amount they make each year but by how they've saved and invested over time. Do you know why we get frustrated when we don't become as rich as quickly as imagined that we will? It is because we hope to actualize our millionaire dreams by setting a supposed date instead of an actual goal and action plan. Here's what I mean. For instance, we say things like this to ourselves. By the time I am 25 years old or 30 years old, I want to become a millionaire. I'll start so and so business, market it properly and ensure that so many people buy my products or services every day. Same things like these isn't completely wrong. However, when we ignore the principles of wealth accumulation and begin to visualize our millionaire status based on the number of years we have worked or based on the number of products we sell daily, we get stuck and eventually get frustrated because we don't know how to get what we want. We only assume that we do. When you know how to get rich following Ramitz Set's guide of saving properly and investing the money, we can then answer the question of how long it takes to get rich. Again, when you think of becoming a millionaire, you have to get rid of the get rich fast mentality. Ask any millionaire or billionaire if you manage to meet one about the secrets of wealth building and he will tell you that getting rid of the get rich quick mentality is one of the vital factors required to become rich. Tom Corley, the author of rich habits, the daily success habits of wealthy individuals, while researching his book found out that 76% of those who were wealthy were self-made millionaires. They came from non-wealthy households. 31% of these millionaires came from poor households while 45% came from middle-class households. However, what is even more compelling about Corley's data is the age in which these self-made millionaires struck it rich. According to his research, 1% 2 out of 233 became wealthy before the age of 40. 3% 6 out of 233 became wealthy between age 40 and 45. 16% 38 out of 233 became wealthy between age 46 and 50. 28% 66 out of 233 became wealthy between age 51 and 55. 31% 73 out of 233 became wealthy between age 56 and 60. And 21% 48 out of 233 became wealthy after the age of 60. Becoming a millionaire is about accumulating wealth, not about generating a huge sum of money. When you are well aware of this fact, we can then talk about becoming a millionaire in terms of how long it takes to become one. Anyway, now that we have settled that, how long does it take to become a millionaire? Thomas C. Curley said, Opportunity lock is why the rich are richer. Opportunity lock is a unique type of lock the rich create as a result of having good daily habits. When you have good daily habits, you magnify the opportunity for luck to occur. If you want to become a millionaire, first of all, understand that it isn't a day's job. It might take up to two years, five years or even more depending on how diligent and frugal you choose to be. However, do not rush yourself into becoming one. Accumulating wealth takes time. Go slowly, but consistently, and you'll achieve your goal. As a matter of fact, it's pretty easy to get well to do slowly, but it's not so easy to get rich quick, says Warren Buffett. Thank you very much for watching our videos. We'll like to give you another interesting video for you to enjoy next, but before then, our team will be very happy if you can like this video and share it with your friends on social media. If you're new here, don't forget to subscribe so that you won't miss other interesting videos like this. 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