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  • How many millionaires are there in the United States?

  • what If I told you that in just 2017, 700K people became millionaires. And now try to

  • guess the total number, it's in millions, to be exact, there are over 11 million millionaires

  • just here in the US! and now try to imagine how many millionaires

  • are there worldwide! the world is actually filled with millionaires!

  • Every single day, thousands of people join the club.

  • However, If you give it a closer look, all millionaires can be divided into 3 categories,

  • because, there are essentially 3 ways to become a self-made millionaire unless your dad will

  • give you a small loan of a million-dollar, and that will be the fourth way.

  • By the way, contrary to the popular beliefe. Only 20 percent of millionaires have inherited

  • their wealth, the other 80 percent made it with their blood and sweat.

  • In fact, out of 2604 billionaires worldwide, 56% of them are self-made.

  • So even if you are not born with a silver spoon in your mouth, your chances to become

  • one are reasonable There are basically 3 financially paths you

  • can take! Sidewalk, Slowlane, and The Fastlane!

  • 1. Slowlane is get rich slow formula, or get rich old where you will be on a wheelchair!

  • The Slowlane is your typical parent's advice: Go to school, get good grades, graduate, get

  • a good job, save 10%, invest in the stock market, max your 401k, clip couponsthen,

  • someday, when you are, oh, 65, maybe 70 years old, you will be rich.

  • Congratulations, you have made it!

  • The problem with the Slowlane is that you will have to sacrifice your entire life so

  • that you can live your dream life when you are in a wheelchair.

  • Which I don't really like because once you are old, you can't get back young again,

  • Time is out of your hands. So as your income, you can't double it or

  • triple it every year, try asking your boss for a 100 percent raise, you will most likely

  • get fired!

  • So, If you decide to take this path, remember, you are not going to drive that Ferrari while

  • you are young, you are not gonna travel and have adventures because it's quite difficult

  • to do that when you are 70. You will live like a slave waiting for Friday to celebrate

  • your freedom and then get back to slavery on Monday.

  • If buffet started investing when he was just 11 years and only made his first million by

  • the age of 31. How long do you think it will take you to make even a million dollars when

  • you haven't even invested a single dime in the stock market yet and you are 25!

  • Nonetheless, its probably the best strategy for most people. Although you will have a

  • boring mediocre life, you will have a financial plan that works!

  • Even if it's not excitingyou will be a millionaire in 30 or 40 years, depends on your salary, and how much you're willing to save.

  • In fact, a considerable number of millionaires in the US have taken this path. It's safe,

  • secure and guaranteed and better than the second option - The Sidewalk.

  • 2. Sidewalker

  • The Sildewalkers are usually one step away from bankruptcy, because they are more bothered

  • about living their dream life today and aren't much into the future. They can even make millions

  • of dollars but still, end up poor like a professional athlete or an actor. Your album fails, you

  • get injured, you get homeless and file for bankruptcy.

  • Even if you have a prosperous career, chances that you will remain a millionaire after you

  • retire are really low. 78% of NFL players are either bankrupt or

  • under financial stress within 2 years of retirement. 60 percent of NBA players go bankrupt after 5

  • years of ending their career.

  • Imagine making millions of dollars but still Go broke. it sounds unbelievable, but that's

  • what happens when you decide to become a pro athlete. There isn't time for financial education,

  • You have to work hard day and night to be at the top, there will be people who are more

  • talented than you or simply have better genetics. The number of athletes who end up making it

  • to the pro level are less than 1 percent. While you are having the greatest years of

  • your career, you get used to a certain lifestyle that's completely taken care by your muti

  • million dollar salary, and once you retire its difficult to get back to an average life.

  • SO you go broke in few years.

  • The number of athletes who build a sustainable business while making it to the top like Michael

  • Jordan are an extremely small minority. And even those who end up earning 400 million

  • dollars like Tyson did can still go absolutely broke!

  • The worst part about it is that. With the rise of social media, everyone is

  • taking the sidewalk. You pull out your phone and see how these people are driving ferries

  • and living their dream lives. and You don't want to be left behind, You might be working

  • hard, but whatever money you make, you spend it on the next great gadget, on the next trip

  • so that you have something to post on your InstagramOn a more expensive car.

  • Sidewalkers are trapped in such a lifestyle where they are driven by their urgent instant

  • need for pleasure. Every dime you make will directly go to your

  • car payment, clothes, whatever.

  • You are not worried about the future because you think that someday, sometime in the future

  • you will hit big. But let's be honest, you most probably won't. So it's not the wisest option to take!

  • 3. Fastlane

  • And then there is the Fastlane. The whole idea behind it is that, instead of sacrificing

  • today for tomorrow or tomorrow for today. Get out and provide value to as many people

  • as possible. You see most of us are consumers because to

  • provide value, you need to have something first. And most people do not take the time

  • and effort to build themselves up to a point where they will have something to give.

  • Mark Zuckerberg became a billionaire in just a few years because he provided a platform

  • to millions of people to socialize.

  • If you give it a closer a look, the purpose of any business is to give value in different

  • ways, the store besides your house provides you with the groceries, the restaurant downside

  • the road provides you with the food. Your favorite YouTuber provides you with content

  • that you find interesting. Amazon saves you the time and makes shopping much easier!

  • And what makes this path much more appealing than the other two, There is no limit to how

  • much you can make! You want to triple your income in the next

  • 3 month, It's under your control! You don't have to beg your boss for a 5 percent raise

  • like the Slowlaners do.

  • And you are not scarifying your future like the sidewalks do because Fastlaners take that

  • money and buy real esate, patents, businesses that will keep raising their income.

  • The challenge with the Fastlane is that you will have to spend first an enormous amount

  • of time to create something that will truly bring value to a substantial number of people.

  • Of course, it's not easy, and most people would never be able to do that, because the

  • other path looks more appealing since that's what being rich means to most people.

  • But  “When you finance an $80,000 Mercedes Benz

  • over six years because that's all you could afford, that isn't wealth, but the impersonation

  • of wealth.

  • You are Fooling yourself. It still blows my mind how people travel while

  • not having even a thousand dollars in their savings account.

  • Wealth isn't embodied in a car or clothes but in the freedom to know that you can buy

  • it.

  • That's why it's easy to find self-made not only millionaire but billionaires who are

  • cheap because they know that they have the freedom to afford pretty much anything anytime

  • they want.

  • On the other side, you have people who haven't paid their students loans yet but are completely

  • comfortable to take another loan to show everyone how successful they are.

  • People don't choose to be poor. They make poor decisions that slowly lead them into

  • that direction.

  • Conclusion  So here are the 3 financial roads that you

  • can take to become a millionaire. Of course, the Fastlane

  • is the most rewarding one where you can become a millionaire in just a few years and stay

  • one for the rest of your life., but its also the most challenging one, which is why most

  • people won't take it, but being a Sidewalker isn't sustainable, that's why the Slowlane

  • is probably the best option for most people.

  • This video is based onbook, the Millionaire Fastlane by MJ Demarco, It's a brilliant read

  • which I recommend to everyone. It's quite different from all other books on this subject.

  • I will leave a link in the description and also an affiliate link to audible, where you

  • can free the audiobook for free! Thanks for watching and Until next time.

How many millionaires are there in the United States?

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