Seven Years to Seven Figures

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Seven Years to Seven Figures

The Fast-Track Plan to Becoming a Millionaire
By Michael Masterson

In the introduction section of the book, Michael mentioned that getting rich involves 3 components :

1) How long you invest ?
2) How much you invest?
3) What rate of return you achieve on your investments?

Creating a seven figure net worth in seven years or less may sound outrageous.. even impossible. But according to Michael, it can be done.

One of the first lesson is about priorities. The challenge is to identify top 10 gaols, narrow them to five, narrow them again to three, and finally pick one as a primary goal. While it is true that most people don’t succeed because they don’t have clearly defined goals, some people fail to make progress because they have too many.

Dale Carnegie argued that the best way to guarantee that you will accomplish an objective it to make it your number one priority. After the No.1 priority is determined, spend the remaining 10 weeks or so focusing on it. At the beginning of every day, you have to remind yourselves whether you have a purpose. And throughout the day, we had to make sure that all our actions and decisions reflected that purpose.

It is important to have a full balanced life – one that includes not only work but also friends, family and community involvement. That means you should think in terms of 4 categories when setting goals :

1) Your health
2) Your wealth
3) Your social life
4) Your personal life

7 years from now, for example, you might want to have :

– attained and maintained your high school body weight

– achieved a seven-figure net worth
– become your town’s mayor
– written and published you first novel

These are all reachable goals, but they are also ambitious. If you give them equal weight, chances are you will not be entirely successful. There’s only one way to be absolutely sure that you’ll reach your financial goal (having a seven-figure net worth in 7 years) : you have to make it your top priority. Other goals are extremely important to you, but wealth building always has to come first – every year, every month, every week, and even every day.

If you aren’t willing to make seven years to seven figures your top priority, you can still benefit greatly from the program in this book … but your chances of hitting your financial target will be diminished.

The Seven Years to Seven Figures wealth-building program is based on experience. My experience tells me that you can’t get rich fast unless you dramatically increase your income. There are many ways to dramatically increase your income, and none of them involves scrimping and saving pennies.

According to Michael, you can start making enough dough to put away between $20K and $200K every year by doing 2 things :

1) Invest directly in a brand-new business

2) Invest directly in real estate

There are all sorts of ways to improve the rate of return you are currently getting on your stocks and bonds. But this book is devoted to mainly 2 things – experiences on others who have achieve 7 figure wealth in seven years or less by doing 2 things : investing in new businesses and real estate.

For more information and articles by Michael, you can visit his website at http://www.michaelmasterson.net/

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