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Adopt the Seven Practices of the Rich

regularly at above-average rates of return. Here is a simple example to show
just how easy it is to become a millionaire.
Assume a person earns $25,000 per year. They never get a raise and never
get fired. They work from the age of 25 to 65. Over the course of their career,

they will earn $1 million. If they take 10 percent ($2,500) of their annual income
($208 per month), and invest that money in a decent mutual fund, they will
retire at 65 years old with $1 million ($2,500 9.08 percent $1,000,000). So
small amounts of money do matter. Someone making $25,000 a year can easily
become a millionaire. Most people make way more than $25,000 per year but
never become millionaires. So stop thinking investing small amounts of money
won’t help and start your AIP today.

Story 2: I can’t afford it.

Every time I speak on this subject, I ask the audience if anyone has an
AIP in place. Many raise their hands. I then ask them to stand up, and ask
them to answer this simple question: Two months after you started your AIP,
did you even notice that the money was gone from your monthly budget?
The response is always an overwhelming “No.” As you can see, “I can’t afford
it,” is another self-sabotage story we buy. Most families see 20 percent to
40 percent of their money evaporate each month. Trust me on this. Start your
AIP, and two months later you won’t even notice that the money is gone. You
will be on your path to becoming a millionaire.

Story 3: I need to research where to invest my money before I start.

This is “paralysis by analysis,” and the third financial self-sabotage story.
This is where you put off making any decision for fear of making a bad one.
Don’t fall for this trap. Take control and act. Start your AIP based on your
level of investing expertise. You can always change your investment vehicle.
The important thing is to start.
An AIP has these advantages:

• Easy to set up.

• Simple and hassle-free.
• Fun to watch as your money grows automatically.

Many experienced investors have an AIP linked to investment in the
stock market; either to stocks directly or mutual funds. Unlike any other

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