Why being a millionaire is a mindset
Why being a millionaire is a mindset – hear me out on this!
Honestly, I see a lot of people on the financial spaces online, wanting to be millionaires. At least in the beginning of their journey. I was one of them at one point! And that’s totally fine if that’s your goal, but honey, I’m here to tell you that you need another goal.
Actually, you might not need a goal – but a lifestyle.
You’re already a millionaire
Chances are, that you are already a millionaire. Don’t believe me?
You probably know the saying “it’s wine o’clock somewhere” or similar, to indicate the fact that somewhere on earth right now, it’s an appropriate time of day for a glass of wine. Really, no one should care but that’s not my point here. What I’m trying to tell you is, that you are already a millionaire. Somewhere.
How would your mindset change if you thought about yourself that way? If you converted all your money into a currency that was inflated so much that you’d easily have 5 million (in said currency)? Would it change how rich you feel? Try and imagine it for a second, seeing those numbers.
Even if you are a millionaire in another currency, it might not change much for you. I bet you felt a little funny about it first and then brushed it off with something along the lines of “Sure Penny, but that won’t get me closer to my goals…”. Which is exactly my point. You’re already a millionaire, so what are you doing here?
Being a millionaire is as much a mindset game as it is numbers in a row. If you think the right mindset just naturally comes, you’re in for a shock. It’s been proven time and time again, that most instant millionaires (lottery winners, game show winners etc), lose most of their money within a few years. None of them were prepared to build the wealth mindset needed to sustain their money or millionaire status.
This is why you need the mindset first.
Purchase power and wealth building
Have you ever heard of the “BigMac index”? When I was in uni for economics classes, we would talk about this. How much does a bigmac burger cost in different regions? The price itself varies a lot, but the intrinsic cost is roughly the same no matter where you are. So you might have a million, but a bigmac costs 100.000. Or you might have 1000 and a bigmac costs 20. It’s all just numbers, but what you should pay attention to, is your purchasing power.
How far will your money actually get you? Focus on building sustainable wealth and income sources that will continue to support the lifestyle you dream of. That, in my opinion, is going to be worth so much more than hitting that number milestone in your portfolio. (Okay, both would be nice, who am I kidding).
So, that’s why being a millionaire is a mindset
I hope my thoughts on this provided some helpful insight into your own money mindset and that it might help you reflect on how you handle your financial journey. If you want more content like this, make sure to read my other blogposts or subscribe to my newsletter>>