Does it take luck to become a millionaire?

[The Budget Man]

Re: Does it take luck to become a millionaire?

If luck is all it takes to become a millionaire then there would be far more millionaires. I think the same applies for nepotism. Many times when I see people in jobs they got because they "Knew thre right people" they fail badly and end up loosing out.

I think I'll keep working hard and see the results come when the time is right.

Enjoy your money
The Budget Man

https://www.PersonalityBudgeting.com

A budget to enjoy the money now and then

[TinyFish]

Re: Does it take luck to become a millionaire?

I think luck can have a part in becoming a millionaire (or 'rich', or however you want to put it). To be sure, if you have a lot of really bad luck, it can be difficult to get ahead financially. However, I think people need to bear in mind two things:

1. To a certain extent, you can 'manufacture' luck. I mean helping your chances by setting yourself up for success. If you are careful with your money and use your resources wisely, you have a much better chance than if you do not. So, I'd say you can 'open yourself up to luck' by pursuing education or training for your career, being a hard and conscientious worker, budgeting your money, avoiding debt, having an emergency fund...etc...etc...etc. That way, you are in a better position to avoid or recover from 'bad luck' and to take advantage of 'good luck'.


2. Sure, you might do everything right and then have bad luck knock you to the ground, but if you don't do ANYTHING right, what chances have you got? Probably very little. I knew someone who didn't save because she thought that maybe if there was 'a war or something' she could lose everything, like people with the nazis. I pointed out that if there wasn't a war, she was missing an opportunity to have financial success, and even if her worst nightmare scenario came to pass, having money could only help (she could bribe people to smuggle her out or something).


It is like driving. If you drive perfectly safely and plan your trip, you have a much better chance of getting safely to your destination. Yes, you could still be hit by someone else, but you are more likely to avoid an accident and injury if you take precautions. Likewise, some people drive recklessly and never ask directions, but still get there, but they are doing it against a stacked deck. So buckle up!

[The Budget Man]

Re: Does it take luck to become a millionaire?

I may have a strange group of friends but every one of them who has become a millionaire has been through a hard time at some stage or other along the way.

Enjoy Your Money
The Budget Man

https://www.PersonalityBudgeting.com

The budget to let you be a millionaire

[Duchesse]

Re: Does it take luck to become a millionaire?

I may have a strange group of friends but every one of them who has become a millionaire has been through a hard time at some stage or other along the way.

Enjoy Your Money
The Budget Man

https://www.PersonalityBudgeting.com

The budget to let you be a millionaire

I have to agree with you on this budget man. I think going through hell is a prerequisite for financial success

[LuxLiving]

Re: Does it take luck to become a millionaire?

For relevant thoughts on this line of thinking you might want to read and re-read the entire chapter on luck entitled Meet The Goddess of Good Luck in 'The Richest Man In Babylon' by George S. Clason. Pgs. 55-70 in my copy.

Good stuff!