Hear It From The Horse’s Mouth – Self-Made Millionaires Reveal Their Richness Secrets

Advisor Written by: Sukriti Taneja August 25, 2020

Making money isn’t a child’s play. But regardless of how challenging business gets, you can’t give up if you want success. And that holds even in situations like the current pandemic.

Did you know that people are making huge profits even during this financially uphill period? Would you like to know how they’re doing it?

If you’ve always wondered how people with no legacy can amass vast amounts of wealth, this is your lucky day! This post covers the life stories and money-making secrets of self-made millionaires from around the world.

Stay tuned. You won’t regret it.

Unsplash | The money-making tips these self-made millionaires have will change your thinking

Lisa Locker, franchise owner at CycleBar Denver

51-year-old Lisa Locker worked at Philip Morris as a sales and marketing officer for over twenty years. But after years of serving someone else, she decided to change paths and started working for herself. She consistently traded in the real estate industry, and today, she’s the owner of CycleBar, a health and wellness facility.

Locker once said that her father gave her the best money advice when he told her to invest in 401(k) accounts, which she did when she was at Phillip Morris. When she invested in real estate, the advice she got was that such investment is best enjoyed when it is for the long term.

Read – 17 habits of self-made millionaires

Unsplash | If you have to invest, invest in real estate or 401 (k) accounts

Sam Dogen, founder of Financial Samurai

Sam Dogen was working in investment banking before he took a huge step and created his finance website Financial Samurai. While working at Goldman Sachs and Credit Suisse for 13 years, he regularly saved about 70% of his income. Utilizing his vast knowledge of investing, he started pulling in $80,000 a year, even after his resignation.

Sam suggests that if the amount you’re saving doesn’t hurt you, you aren’t saving enough. He said that he got this advice from his orthodontist, who said that if his braces don’t hurt him, then his teeth aren’t straightening! The millionaire warned that good times don’t last forever, but if you save aggressively, you won’t feel the impact of bad times.

Read – The Savings Strategies That Made 177 People Millionaires

Kendra Scott, CEO, Chairman, and lead designer of Kendra Scott

Kendra is the youngest millionaire on our list. She has been awarded the title of the Ernst & Young National Entrepreneur of 2017. The American fashion designer started her jewelry company with $500, but today, her brand has blossomed into a billion-dollar company with 108 stores across the US.

Her advice is that when you’re chasing your dream, never take no for an answer and let it motivate you.

Unsplash | When you’re chasing your dream, never take no for an answer. Let it motivate you

To Conclude

There are many challenges out there for your business. It’s only when you learn from people that have passed such lanes, that you understand how to make it easier. All the people listed above have experienced setbacks one way or another. But guess what, they didn’t give up.