If I were to define a millionaire as a dollare millionaire…that would at least make the club a little exclusive. If it is a millionaire – Rs. 1 million – i guess everybody walks into it :). Millionaire today has lost meaning. I guess the Indian equivalent should at least be ‘Crorepati’.
Here are some traits that I have seen among millionaires….
1. Spending because they need, not as a therapy: Most of the millionaires I know can take a bus, an auto, train, Meru cab, ordinary cab, car with driver, fly Y class, fly J class and fly first class – as the situation demands without any ego.
2. Like compounding, and do not let the process interrupt
3. Do very disciplined leveraging, if they do it at all.
4. Passionate about something, but equity / real estate money making is with the help of GOOD advise.
5. Invest in mutual funds, but still believe that collective systems of money making is sub optimal…
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