Article Title: Seven "Secrets/Tips" to Becoming a Millionaire
(from the Oprah Winfrey Show)
Submitted by: Craig Lock
Category/Subject: Money, Money Management, Financial Security
Key words: Million, Millionaire, Wealth, achieving wealth
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These thoughts are extracted from the book THE MILLIONAIRE
NEXT DOOR, as seen on Oprah Winfrey's fine show from some years back, which I watch regularly (enough free advertising for her - she doesn't need it!). The research for the book was done on people with a net worth of over a million dollars (3.5 million households in America, apparently). I've written this piece in point form for brevity.

Portrait of a millionaire:

* 86 of millionaires are first generation - the money is not inherited.

* Accumulating wealth takes a long time. Most wealthy people don't
reach millionaire status until age 50. A glimmer of hope for me then!

^ Two thirds of millionaires are self employed. A bit more hope for me then!

* Many were "C-students", not A's.

* Quite a number were told to take the journey of self employment.
I believe doing this makes people much stronger.
There is "no parachute in the journey of life".

* Most millionaires live on less than 7 of their wealth.
They take 15 - 20 of their pre-tax income to live; thus living way beneath their means.
Most of them drive a Ford And not a Cadillac or Mercedes Benz.
They usually don't have overseas trips, own luxury cars and new suits.
The authors found that most millionaires went to public schools -
not private ones.
81 buy their cars and don't lease them.

If $35000-$43000 is the median net worth. Many aim to have 6 months salary as a reserve/emergency fund. However, many people can't afford to miss even a week of work. The majority of people are three pay-checks short of bankruptcy.

We live in a culture, where less time is committed to service. Add value, be exceptional in the delivery of your product or service at all times.


1. Live well below your means and be frugal.

Have a budget - know how much you spend on food, clothing and housing.

Many people spend +- 20 hours per month planning and managing their incomes.
(1/30th of age X income).


1. can live for 16 years off their capital - it's a shift in lifestyle.

2. Make achieving financial independence a priority in their lives.

3. Do not accept a substantial economic contribution from their parents.

4. As adults, they encourage their children to become self sufficient.

5. They have a clear vision of where their lives (including the financial area) are headed

6. Are good at targeting OPPORTUNITIES in any business:
whether it's scrap metal, garbage disposal, junk, waste management, or cleaning buildings. There is even a billionaire making candles.

Finally...and most importantly,

7. they choose the right occupation - the sooner, the better.
Hope I've made the right choice then!

I hope that these tips may be helpful to you in achieving financial succcess and perhaps even wealth..

Eagle Productions

P.S: Even if you never achieve material wealth in the "real world". you can still be a "millionaire in spirit"... and that's far more important.

Books by Craig Lock are available at: and

P.S: Don't worry about the world ending today... it's already
tomorrow in "little" scenic and tranquil New Zealand


Author's Bio: 

Books by Craig Lock are available at: and