Do I Need a Millionaire Mentor to Become a Millionaire?

I get emails from people all the time asking for trading help. In essences they are asking for a millionaire mentor because ultimately that is what they want. Granted my personal millionaire journey has a long way to go but I am focused and determined to get there with financial discipline. However, do I or you need a millionaire mentor to get there or can we do it all by ourselves? Let’s have a look.

What is a Millionaire Mentor?

A millionaire mentor is simply anything or anyone who can guide you to becoming wealthier through financial discipline. He or she can consistently help guide you to increasing your abilities in your job, blog or side hustle with the hopes of making you more financially fit overtime. A millionaire mentor can virtually be anyone or anything you chose to help you become a millionaire. It can be your stock market guru, therapist or my personal blog: Beyond Debt

Think of a millionaire mentor as a dietician or work out guru.

3 Reasons You Should Find a Millionaire Mentor

There are 7 ways to becoming rich but there are 3 reasons you might seriously search for a millionaire mentor.

Making Money – In order to become a millionaire you have to make money. That is just common sense. I personally have 3 ways that I make money which is helping me on my millionaire journey. I am a photographer, blogger and trader. All 3 of those financial lifelines are getting better over time because I have worked hard at building them. I have used mentors to become a better photographer, blogger and stock trader. I guess you can say each one was my personal millionaire mentor.

Spending Money – One of the main factors of becoming a millionaire is to control spending. I spent nearly all of 2017 analyzing my spending habits and eliminating money sucking services. I got rid of cable, changed my home owner’s insurance and increased my coupon usage.

I spoke with other bloggers and family members who are disciplined in their spending habits. I started negotiating more so that I could ensure that I am able to save every possible dollar I can. Each person who helped me was a millionaire mentor who tightened my spending habits without eliminating the fun.

Saving & Investing Money – In order to become a millionaire you need to save and invest your money wisely. My step father gets most of the credit on this one which means he is my millionaire mentor. He taught me how to buy stocks with good dividends and sell covered calls on those stocks to increase my income. He showed me how to read SEC filings and understand a company’s financial health. I truly couldn’t have done it without him.

Reasons You Should Avoid a Millionaire Mentor

If you need financial help you need something or someone to mentor you. My blog is a great resource for those who need help with their financial issues. However, there are reasons to avoid the millionaire mentor. For example, there are so many people in the world who are trying to take your money from the stock market game.

Now that Bitcoin and cryptocurrency is on fire everyone is promoting their amazing abilities to help you become rich. Those are get rich quick schemes. It’s not going to happen and those people cannot help you in the long run. PERIOD.

Every week I learn about people who bought subscriptions to stock market services who want to become rich in the stock market. However, their only goal was to get your subscription fee and nothing more. Unfortunately those people don’t really care about you.

However, I do.

In order to become financially fit you need to make money, spend less and save/invest the rest. That is it.

Final Thoughts

If it’s too good to be true it probably is. Stay away from those types of promises. Again the key to becoming financially fit is to make as much as you can, spend as little as you need and save as much as you can to invest the rest. Talk to people like me or others like JL Collins. We are forms of your millionaire mentor not those who are looking to take you for a ride to drain you of your money.

I wish I could say becoming a millionaire or even becoming financially fit is easy. It isn’t but with discipline and hard work you will at least be in a better financial position than other people around you.

If you need any help or would like to reach out to me please contact me.

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Disclosure:

Some of the links in this post are from my sponsors. I thought you should know because honesty is better then sugarcoated bullsh*t.

Important Resources

  • Read my frequently asked questions or if you need personal 1 on 1 guidance from me on how to fully prepare as well as protect yourself from the misrepresentation please click here.
  • Every month I update this post here for my personal "Millionaire Challenge". I suggest you read the entire post and when you reach the bottom you can see my updated progress.
  • I highly recommend the Simple Path to Wealth book to grow Your wealth simply and steadily. It will educate you beyond your financial imagination. This is my review of the book.
  • If you are new to stock trading test your knowledge here with a basic stock market quiz.
  • There are a lot of secrets in trading stocks and I reveal 20 of them in this popular post.
  • If you are confused about short selling stocks then read this simple explanation that will clear it all up.
  • This free stock research tool will give you all the necessary information on any stock you type into the search bar.
  • Do your best to avoid day trading distractions. Especially the 10 I list here.
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