When you read about Jeff Bezos, you can't help but wonder what it's like to be one of the world's richest men. When your net worth is reported to be in the billions of dollars, you may as well want a super-yacht as big as Titanic or the house from the movie "Richie Rich".
Success inspires the world we live in, and our common belief is that we can attain success only through money. Over the past years, the term "millionaire" has grown into our minds as the epitome of success. From lavish multi-million dollar houses, supercars, diamond watches, and designer clothes, everything that is rare and expensive become the motivation for people to earn more and strive toward the millionaire lifestyle.
Michael Blakey (aka ProducerMichael)
Michael Blakey, a successful music producer and content creator on YouTube, gives people insight into the millionaire lifestyle to motivate young entrepreneurs. Michael is a true motivator that people turn to for amazing ideas, reviews, products, and experiences. His channel ProducerMichael is one of the top luxury lifestyle channels on YouTube and has over 1 Million subscribers. His refined audience across the globe has shared appreciation and desire for quality, exclusivity, taste, heritage, and fine designs.
The key to Michael's wide-reaching audience is that he motivates people by reviewing rare and expensive houses, cars, watches, and yachts and tips on achieving the millionaire mindset. Over the years, Michael has reviewed several luxurious products and given a true perception of the world of Millionaires in his videos.
With the help of Michael's videos, we dive into the world of millionaires. Here are 4 millionaire strategies that ProducerMichael's videos help discover the world of a millionaire.
Saving More and Avoiding Debts
A Multi-Million dollar mansion, car, or expensive watch are things many millionaires purchase because it is investing in their success. In many of his videos, Blakey explains why these luxuries may work for you. However, it is not attained through excessive spending but with smart buying.
Millionaires have a different perspective on the way they spend money. A purchase should not be accompanied by the thought of whether or not one can afford it, rather the knowledge that purchasing it will not affect their ability to invest for gain.
Planning and Preparation
Blakey's first strategy in his videos is that the key to becoming a millionaire is planning and strategizing. Most millionaires won't tell you that you must strategize and prepare to be successful.
Most millionaires don't become wealthy by chance; they plan and work hard. Sure, luck plays a role, but if you can plan, have a great strategy, and prepare, you can achieve anything you desire.
Smart Investments
Many of the cars, houses, jets, etc. that Michael Blakey reviews in his videos are from people who invested wisely at one point in their life. An investment plan comes in many shapes and sizes which could include bonds, stocks, and exchange-traded funds.
Millionaires say that you should save at least 20per cent of your monthly income as a rule of thumb. This 20percent goes toward your retirement and investing goals, as well as your emergency reserve. The amount you set aside from your paycheck to invest depends on your income and investment objectives, but getting acclimated to live without that 20% is a smart place to start for both saving and investments.
Setting Up Multiple Income Streams
Many of Michael's friends and associates supplement their investment portfolios with a wide range of assets, such as passive income generating rental properties, online stores, brand buildups and content creation.
Conclusion
There are many other ways to achieve the millionaire lifestyle. However, the strategies mentioned above are extracted from ProducerMichael's videos and the successful people he reviewed. Taking advantage of chances to pay off debt, save, invest, and study while avoiding possible hazards can significantly improve your capacity to grow wealth. Michael always speaks of "Mindset", and believes everything is possible if you set your mind to it.
