NATIONAL BE A MILLIONAIRE DAY | MAY 20
Annually on May 20, we celebrate National Be a Millionaire Day and wonder what it would be like to be a millionaire.
Have you ever imagined what it would be like to be a millionaire? If you have, this holiday is for you. However, imagining millions does no good if you can’t imagine how you would spend your millions.
A million dollars today may not be what it used to be, however, having one million dollars in your bank account is still a major financial success. Today, you can start taking steps to turn your dreams into a reality. A good start is planning for your future:
- Start a savings account. If you have an existing savings account, review it to make sure you are earning the maximum interest available. Increase the deposits into your savings account.
- Review your financial portfolio with a trusted expert.
- Review your investments. Look at ways of improving your investments.
- Add to your 401K. If you do not have one, start one.
- Pay off your credit card.
- Review your spending habits. Find ways to spend less and save more.
Every millionaire has secrets and tips on how to become a successful millionaire. According to www.ramseysolutions.com, there are five habits millionaire’s practice. Millionaires:
- Read and learn constantly.
- Sacrifice things that cost money.
- Pay cash for as much as possible.
- Create and budget and stick to it.
- Often donate to charities, friends or organizations.
The United States has the most millionaires in the world, ranging from millennial millionaires to old money millionaires.
- The average millionaire owns at least three properties.
- 44% of millennial millionaires live in California.
- Only 1% of the population make up millionaires.
- About 3.3 millionaire households live in New Jersey.
- 77% of all millionaires in the U.S. are white.
- There are 21 million millionaires living in the U.S.
SPEND YOU MILLIONS
- Pay your bills.
- Hide some under your mattress for a rainy day.
- Start a business.
- Save for retirement.
- Buy some property, specifically real-estate.
- Invest. Invest. Invest.
NATIONAL BE A MILLIONAIRE DAY HISTORY
We are not sure who created National Be A Millionaire Day. While we continue to research, you can learn a few tid-bits about some millionaires who have made history using technology:
- Elon Musk (50 years old): Co-founder and CEO of Tesla. His net worth is $268 billion. He owns only 16% of Tesla, which means he invested in other companies to make his billions.
- Jeff Bezos (58 years old): Cofound and Executive Chair of Amazon. He is worth $150 billion. He owns 10% of Amazon. He also has ownership in Blue Origin, The Washington Post and cash8.
- Bill Gates (66 years old): He is the co-founder of Microsoft and worth $127 million. Interestingly, he only owns 1.9% of Microsoft, meaning he makes more money from his other investments with Cascade Investment LLC and cash36.
- Steve Ballmer (66 years old). As the highest stakeholder in Microsoft, Steve is worth $97.6 million. He also owns the LA Clippers and cash 93.
- Sergey Brin (48 years old): As a co-founder and current board member of Google, Brin has a net worth of $101 billion. He also has ownership in Alphabet, the innovative technology company that creates services like self-driving cars and smart glasses.