An important step on the path to becoming a millionaire is to create and refine
your vision, which is a description of what you want your life to be at any given
moment. This may seem like a superfluous task but it's really not since it concerns
the financial infrastructure that supports your ultimate goals. Describing your
vision should make you excited and proud. What does yours look like?
Become A Landlord
If you like being a homeowner, then you may love being a landlord. In addition to
tax deductions for mortgage interest and property taxes, owners of rental property
also enjoy deductions for homeowner's insurance and property depreciation. Bottom
line: you get a steady stream of income on an appreciating asset, pay less in taxes
and keep more of your income.
Get A Mentor
Why would someone want to mentor you? Maybe they wouldn't -but you'll never
know unless you inquire. At the very least, a potential mentor will be flattered
you asked. Moreover, enlightened professionals understand that it never hurts to
make an ally, even a newcomer to their industry. Plus, it could be the start of
a lucrative referral source for both of you. After all, everyone has a specialty.
For example, lawyers are often the best source of referrals for other lawyers.