Can everyone become a millionaire?

In most developed countries, almost everyone can become a millionaire.

If you look at the statistics, before the age of 65 or 70, you don't need to invest a lot of money every month to become a millionaire or even a multimillionaire:

As this book shows, most millionaires are middle-income and middle-aged, and few people inherit money:

A few years ago, a new book named "The Next Millionaire Next Door" was published, which explored whether the original research is still valid considering how much the world has changed.

The author found that most factors affecting wealth remain unchanged.

I have seen countless middle-income people become millionaires and many high-income people go bankrupt.

The main similarity of people who become millionaires is that they start the investment process as early as possible and are willing to make sacrifices. This may mean starting early, or investing heavily. Willing to take appropriate risks in work, life and investment.

Suggestions. A study by Yale University found that millionaires are more likely to accept financial advice. In contrast, most people who are not millionaires are more likely to make decisions based on comments and opinions from friends, family, the public and sometimes online.

The ability to control emotions by yourself or with the help of a consultant when the market crashes. In contrast, in 2008 and 2020, countless people panic selling. This is expensive-panic selling can cost ten times as much as waiting for a few weeks.

Bad decision. Divorce, excessive consumption and midlife crisis are some of the reasons why people can't get rich. Most people who inherit money are bankrupt. 60%-70% of professional football players and basketball players will go bankrupt after retirement. Therefore, high income is not enough.

Adapt to changing times when necessary. We saw this in 2020. Some enterprises failed because they did not adapt to coronavirus pneumonia. Those successful people often began to change careers online many years ago, when the world was moving in this direction.

Connect to point 7 and be willing to take yourself out of your comfort zone. Comfort zones don't produce good things. If something makes you uncomfortable, it's actually a good sign.

Ultimately, the road to success is not guaranteed. By the same token, even if you eat healthy and keep exercising, you may get heart disease at the age of 35, but sometimes, even if you make the right decision, you may fail because of bad luck.

However, what you can do is to greatly increase the possibility of being beneficial to you.