
The practical steps it takes to actually become a millionaire - devy
https://qz.com/913249/the-practical-steps-it-takes-to-actually-become-a-millionaire/
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AndrewKemendo
It's silly in my opinion to use Warren Buffet as an example of a strategy for
growing wealth for the [average] reader.

For one, Buffet started his "investing" career in the early 1950s. The DJIA
grew 8x from 1950 to 1965, that's quite a head start with basically no
downturns. Not only that, that period was when the largest American brands
started and gained market dominance - so great timing there too.

He also buys companies, he doesn't passively invest, something your average
person can't do.

The other suggestions are fine, but Rule #4 is really the only one that
matters. It should have been #2, behind "get lucky."

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harry8
Yeah and he bought a company to get its pension funds assets, took an unproven
technique which without hindsight adds risk to the pension holders but they
didn't get the upside, he and other shareholders did. Worthwhile keeping that
in mind when Warren preaches what a moralist he is, he let employees take the
risk of his new strategy and kept their upside. Doesn't sound so much
different from any other investment banker to me when phrased in plain
english.

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jelliclesfarm
I don't understand. The 'practical steps' for one to become a millionaire is
to be and act and look like one is frugal?

This will probably result in being a millionaire..as in one single lonely
million.

Money is the easiest thing to create..they print it to create it, you know.

Being and feeling rich..on the other hand is entirely different.

