We’ve interviewed nearly 50 millionaires from diverse backgrounds. Their jobs vary from plumber to doctor to business owner, and their net worths range from $1 million to $8 million.
Each millionaire has a unique investment portfolio and their own investing strategy, but there are many similarities. From all the interviews we’ve conducted, here are five investing strategies anyone, regardless of net worth, can implement:
1. Shift your emphasis from vertical to horizontal income
The millionaires we’ve interviewed look for passive income opportunities and consistently earn income from sources other than their primary job. They don’t rely solely on a W-2 paycheck to fulfill both their lifestyle dreams and investment goals. They invest in rental real estate, small business ventures, vending machine routes, blogging, and coin operated laundromats, to name a few.
If and when financial trouble arises, most millionaires have cash flow from several different sources. As T. Harv Eker wrote in his popular book “Secrets of the Millionaire Mind,” “without passive income you can never be free.”
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