One of the reasons why the rich appear to get richer while the poor appear to get poor is significantly related to habits. Humans are creatures of habit, so people will always default to their natural habit of comfort. 

If over time the rich developed the habit of seizing opportunities and taking calculated risks to make more money, that is what they will practice all day long. The law of averages will therefore cause them to make more money and therefore become even more rich. 

If the poor developed the habit of overspending, living from paycheck to paycheck, and getting deeper and deeper into bad debt, that is what they will practice all day long. And the law of averages works the same way for the poor too. Hence, they will keep spending more, get deeper and deeper into debt, and their paycheck will cover less and less of their expenses. 

But what if the poor could turn the following NEGATIVE list into ALL THINGS POSITIVE?

1. Bad habits and poor decisions
2. Limited education and limited opportunities
3. They don’t budget or live within their means
4. They don’t set financial goals
5. They have expensive taste or spend more than they earn
6. They don’t save or invest to make money work for them
7. They are drowning in debt – buying liabilities instead of assets
8. They don’t prepare for emergencies
9. They are lazy and like to blame the government and others for their situation
10. They experience barriers relating to health, race, gender, and more

I believe that everyone capable of earning money can become a millionaire. It’s all about having the right mindset, exercising discipline, and setting those financial goals!

Here’s an example of how everyone can become a millionaire.

If you started working at age 20, by the time you get to age 60, you would have been working for 40 years. 

Now let’s assume you pay yourself $10 daily from your paycheck. For simplicity of calculations, I’ll use $300 per month savings.

If you were saving in a proverbial piggy bank, after 40 years you would have saved a total of: $300 x 12  x 40 = $144,000

Now let’s add the power of compound interest to your savings.

Even though the interest on your savings accrues daily, for simplicity of calculations I will use an annual interest rate of  8% compounded monthly.

The future value of your savings for 40 years would be: $1,047,302.35

You may use the link below to calculate this for yourself.

But do remember the number of periods would be: 40 years x 12 = 480 months

Future Value of My Savings Calculator

Now imagine if you were saving more, or if your investment was growing at a higher interest rate, you would become a millionaire even faster!

And you may be asking yourself: How can I get 8% interest on my savings when my bank is giving me only 2% or much less? 

My response to your question is, the same way the bank takes your money and invests it for way more than 10%, but unfortunately only gives you that measly yearly interest on your money. 

Those investments do exist and are available to you! I can direct you to the right expert financial advisors! You only need to ask!