In 2007, there were roughly 9 million Americans who had a net worth of one million dollars or more.

Representing only 3% of the entire U.S. population, they are indeed a special group of individuals who have achieved more than the American dream -- they are the American dream!

Since 2003, the number of American millionaires has increased every year by 15% on average. Are they financial geniuses compared to the rest of us? What do they know that you and the rest of America does not, and how can you learn to become one of them? 

These financially superior Americans may know the formula for creating wealth, but they don't own it. In capitalist America, the formula for wealth creation is available to the bank teller, barber and Mary Kay consultant, but the question is, will they seek it out and use it? 

What millionaires do for a living?
The typical American millionaire is a self-employed (hustler) or business owner (baller). Of the 9 million millionaires, about 65 percent are self-employed. About 4.5 million are business owners, who own restaurant franchises, auto dealerships, real estate, and car washes. Another 1.5 million are self-employed professionals consisting of doctors, lawyers, and accountants. About 66% of millionaires work between forty-five and fifty hours per week, but most enjoy what they do and don’t consider it work. 

How much is a millionaire’s salary?
Contrary to popular belief, you don't need a million dollar salary to become one. The average millionaire only makes about $130,000 per year, but they do something the majority of Americans have proved they simply can't do -- SAVE and INVEST! Another millionaire misconception is that most are wealthy because of an inheritance. However, roughly 80% of millionaires are self-made business people who had ambition, discipline, financial education, and goals, and received no inheritance. 

How do Millionaires live?
Most millionaires save between 15-20% of their income, wear inexpensive clothing and drive late-model cars. For example, billionaire Warren Buffet drove a 2001 Lincoln Town car before he auctioned it on Ebay in 2005 for charity and drove a 1983 Oldsmobile for 15 years before purchasing the Town car. Also, you won't catch Bill Gates in the MayBach or $400,000 Rolls Royce Phantom (Jay-Z's favorite car), instead he drove a 1999 Porsche 911 Convertible and a 1988 Porsche 959 Coupe. 

About 97% of millionaires own their home and their homes on average are worth $320,000. Most of them have lived in the same home for more than twenty years. Another real-life example is billionaire Warren Buffet, who lives in the same house in Omaha, Nebraska he bought for $31,500 in 1958.

Are they smarter and more intelligent than us?
Of course not! About 65% of millionaires have a bachelors degree, 18% have obtained master's degrees, 8% law degrees, 6% medical degrees, and 4% PhD’s. Most millionaires will tell you what they learned in college helped them somewhat, but real-life business experience was a far more effective instructor. What about a business plan? The average millionaire relied more on instinct, ambition and daily goals rather than a formally written business plan to achieve their business and financial success. 

Finally, how do you become a millionaire?
Well of course it's not some secret wealth formula that “white folks” are hiding from us! You now know what the average American millionaire looks like, what they drive, how much they save, how they make money, and how they behave and think financially. They don't spend money on things that decrease in value. They invest their money in assets or objects that will increase in value or put money into their bank accounts.

They don't have to look wealthy because they know they are wealthy. They write down daily/weekly business and financial goals to make certain their everyday moves are related to reaching those goals. They know they can’t do everything themselves so they employ leverage, which is using other people’s time, money and efforts to achieve results.

Where average people see financial disaster they notice business opportunity and immediately capitalize on that opportunity before the window closes. According to Dr. Thom Stanley, author of Millionaire Next Door, it takes the average millionaire 17-18 years to become one and most are first generation and started with little or nothing. 

Remember, the average millionaire only makes about $130,000 a year, but can live on $50,000 and save and invest the rest. Get ready! Now your goal should be to see how you could make $130,000 a year. Get set! Take $130,000 and divide by 12 and you get about $10,800 per month. Now find 1,000 items (your labor, cars, clothes, real estate etc.) that you can sell and make an average profit of at least $10.80 or more and keep your cost of living at $50,000 a year and it should only take you about twelve and a half years to become a millionaire. Go!!!

Create Wealth, Enjoy Life!
James "Bird" Guess
President & Founder

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