The Money Management Secrets of Millionaires
The Money Management Secrets of Millionaires

The Money Management Secrets of Millionaires

Surf the Internet and you’re bound to find dozens, if not hundreds of articles about how to become a millionaire. Most will claim to reveal “secrets.”

Read a few of those articles and you’ll find a few common threads.

A couple of the “secrets” that stand out are …

  1. Believe that you can do it.
  2. Articulate your vision for success.
  3. Work hard — and you’ll get lucky.
  4. Live below your means.

Alan Corey, the author of A Million Bucks by 30, did something that I tell people to do: read all the biographies and autobiographies of millionaires that you can. When you do, you’ll see that what they achieved was the result of …

… a (sometimes) good idea

… thorough planning

… and hard work

… as well as a belief that they can do it.

Or, to paraphrase Charles F. Haanel in The Master Key System,

First, they had knowledge of their power; second, they had the courage to dare; and third, they had the faith to do.

When you read biographies and autobiographies, you will see beyond the trite anecdotes that you often hear. You’ll see them in all their naked, sometimes unflattering, glory — warts and all.

More than likely, you’ll see a little of yourself in them and you’ll be convinced on a very deep level that you can achieve the success you want.

And it all begins with a goal.

A glorious, cinematic, full-color goal.

Vague and general goals are of not great value; rather, you should be specific about your goals.

Saying “I want to be rich” is vague. Way too vague.

Instead, imagine — visualize — what your life as a millionaire will look like. For example: “I want to have $10,000,000 invested so that I can live off of the interest. Then I will volunteer, travel, and enjoy picnics at the beach with my family.”

One of the best books that you can read to hone your vision of success is The Master Key Workbook.

Get it

… read it

… do the exercises …

… and you will have a very clear picture of what you want — and a plan to achieve it.

Then embrace hard work, as that is the true “secret” of any success, regardless of what some infomercials and “gurus” will tell you. Just ask every successful person you know.

I also cite Mr. Haanel. From Week Seven of The Master Key System …

4. This is another psychological fact which is well known, but unfortunately reading about it will not bring about any result which you may have in mind; it will not even help you to form the mental image, much less bring it into manifestation. Work is necessary — labor, hard mental labor, the kind of effort which so few are willing to put forth.

He returns to this idea of hard work again in Point #28.

28. Thought force is the most powerful means of obtaining knowledge, and if concentrated on any subject will solve the problem. Nothing is beyond the power of human comprehension, but in order to harness thought force and make it do your bidding, work is required.

How about Donald Trump?

Donald Trump attributes his success to his hard work, which to outsiders often appears to be luck. But Trump says luck only comes from working hard. “If your work pays off, which it most likely will, people might say you’re just lucky. Maybe so, because you’re lucky enough to have the brains to work hard!” he says.

Many successful people (millionaires) live below their means. In fact, many are down-right cheap! Two highly successful people that I know have a friendly competition about who got the better deal on their purchases. One will point to his shoes and say, “Target. Fifteen bucks.” The other will smirk and reply, “I used a coupon and got these for twelve.”

In other words, they don’t aspire to look rich, they intend to be rich.

To quote Charles F. Haanel from Week Four of The Master Key System

8. Those who recognize this principle have a great advantage in the affairs of life. They do not wear themselves out. They can eliminate vagrant thoughts with facility. They can readily concentrate to the highest possible degree on any subject. They do not waste time or money upon objects which can be of no possible benefit to them.

Take these ideas to heart.

More importantly, put them into daily practice.

Attaining a million dollars (at least!) is very doable as long as you go about it intelligently.

Look at it this way …

You can purchase lottery tickets and wish and pray for your one-in-a-billion chance to win the money …

… Or …

You can plan your work and work your plan and practically guarantee your success.

One path is more difficult than the other.

One path is also more rewarding.

Not just on a materialistic level, but on also on any scale you can think of — mental, spiritual, and moral.

Listen to what real millionaires and successes say about becoming a millionaire.

Put their words of wisdom into practice.

It may be difficult in the beginning …

In fact, it will be difficult at times …

But you’ll be glad that you did it.

Because winning is awesome.

And that’s no secret.

Read great books because you want to be successful.


    • Tony says:

      Hi, Susan!

      Thank you! I visited your blog and there is a lot of good information there as well. I’ll be visiting your blog regularly, too.

      All the BEST!

      Have fun … Tony.

  1. Matt Geib says:


    Beautiful piece of writing!

    As both you & Haanel show so well Riches do not happen by accident…A price must be paid. So few today are unwilling to do what is really needed as they have become brainwashed by the media & ‘plug-in drug’ that magically riches just came into the celebrities life.

    We need more folks like you willing to share these truths & get off their butts to make the life of their dreams a reality.

    Thanks Again!

    Matt Geib

    • Tony says:

      Hi, Matt!

      Thank YOU! I don’t know if it’s that people are unwilling to do what is needed to become successful as they have been lied to for so long by so many “gurus” about creating wealth. Let’s face it: the idea of “attracting” wealth, while it is nice to think about, is stupid, silly, and, ultimately, debilitating. Wealth isn’t attracted; it is EARNED. Unfortunately, people still espouse that line–and people keep buying it.

      I look forward to reading more of your comments, Matt. You know what the score is. 🙂

      Have fun … Tony.

    • Tony says:

      Hi, David!

      Thank you for your comment. It IS all about just jumping into the fray and doing it. Thought should lead to action should lead to results. Rinse. Wash. Repeat.

      Have fun … Tony.

  2. Kathy says:

    Hi Tony! As usual, you are down-to-earth, non-hype, and to the point. We need more of this common sense in these teachings! I’m still down in South Carolina where I’ve spent the winter; but after reading your post, I’m getting eager to get back home to New Hampshire and my Charles Haanel materials (which I had left behind for lack of room in the car). Thank you for your continued doses of wisdom! Cheers,

    • Tony says:

      Hi, Kathy!

      As you know, these teachings–this philosophy–is all about common sense. Far too many people for my taste seem to veer from the common sense aspect of things and instead grasp for “magic bullets” and easy ways to wealth and success. The fact is that becoming successful IS somewhat easy. It just requires one to roll up the ol’ shirt sleeves and get the hands a little dirty. Unfortunately, sometimes it’s a little late in the game when people realize that there are no “magic bullets” and that the common sense, practical ways of doing things were right all along.

      But we know better. 😉

      Have fun … Tony.

  3. Justin Tsan says:

    While I subscribe to your proposition of working hard, I believe in working smart as well. Not that I do not like to work hard, but there are times when hard work just don’t get you anywhere. So I think the missing link is in working smart with proper planning and a clear definitive goal. Cheers

    • Tony says:

      Hi, Justin!

      Thank you for your comment. Frankly, though, if I could replace with simple, hard work all the time I spent trying to think of the “smart” way of doing things, I’d probably be a very wealthy man. 😉

      Listen, I am not advocating hard work just for hard work’s sake. If I had to dig a ditch, I wouldn’t make my work harder by using a spoon. I’d use a shovel. I’d use a back hoe if one were available! Better yet, I’d hire a few guys to do the work for me. There is one thing that all of these choices have in common, though, and that is that WORK is involved. Even when hiring people, that can be some hard work, not to mention overseeing things, the planning, explaining exactly what needs to be done … You get the picture.

      My point with this article–and ones like it where I extol the virtues of hard work–is to combat that somewhat modern notion of “attracting” and receiving “gifts” from the Universe as is often proclaimed by far too many “gurus” in the self-help industry.

      I hope this helps. I look forward to reading more of your comments.

      Have fun … Tony.

  4. Jan Lauwers says:

    Great post Tony. I will be printing out that piece and post it in a visible place. Those are advices to be lived after.


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