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How to Make a Million
By JLP | April 10, 2006
Now that I got your attention with my snappy title (I mean who can pass up a “How to Make a Million” title?), I want to tell you about a pretty cool series in the May issue of Kiplinger’s Personal Finance called How You Can Make a Million, which offers these seven tips (with my commentary following each tip):
TIP #1: Seize an Opportunity – This takes guts. I’m sure plenty of opportunities have come and gone in my life but I missed them because I had my eyes closed.
TIP #2: Have a Fallback – Always, always, ALWAYS, have a fallback plan. Just make sure it isn’t a crutch.
TIP #3: Learn from Your Experience – If you try something and it fails, figure out why it failed and use that experience to your advantage.
TIP #4: Take a Chance – This, too, takes guts. However, you have to take a chance.
TIP #5: Forget Stereotypes – This is an inspirational story.
TIP #6: Simple Ideas Work – This is the path that most people will probably take to wealth. A lot can be said for growing rich slowly.
TIP #7: Find Your Niche – Ever thought of taking on Starbucks? This couple did and are doing quite nicely.
Topics: Financial Planning, Retirement Planning | No Comments »