Do You Want What it Takes to be a Millionaire Today: Investing in Yourself

November 7th, 2008 by Sara

Do you believe you can become a millionaire if you just work hard enough at it?

Ninety-two percent of the great unwashed say yes, according to Middle-Class Millionaire authors Russ Alan Prince and Lews Schiff.

Well and good, except then we leave it at that.

Actual middle-class millionaires don’t believe they can do this alone. In order to ensure they meet their career goals, they take classes and hire coaches. Hiring coaches is overwhelmingly popular with this crowd. According to the book, half of them had done so, and another 20 percent planned to do so within a few years.

They get that because they’re busy, they’re likely to let progress toward their big goals slide — it’s hard not to be mesmerized by the little fires that spring up every day. They also don’t succumb to the notion that they should be able to do everything on their own. So they make it someone else’s job to monitor their progress.

The middle class, on the other hand, are far more likely to hire coaches or take classes for personal reasons.

In a penny wise and pound foolish approach, write the authors, they “believe in saving up by cutting back on little luxuries, rather than investing in themselves.”