A deep dive into “The Instant Millionaire” by Mark Fisher

Chapter 11 – Assets and Income

The millionaire continues – we mustn’t confuse assets and income. Your assets are what ever you have left over after your taxes and current bills are paid up. They could comprise property investments, company shares or savings in a bank.

Now if you want to be a millionaire in six years – which is a realistic objective I’m proposing – your formula will have to be set-up on this model. If you have assets worth $31,250 by the end of the first year, you will have to double them each year. And in six years you will be a millionaire. Doubling each year makes it easy for you to see your goals and easy for the sub-conscious mind to accept. It also guarantees a consistent growth.

If the starting point of $31,250 in the first year seems too ambitious to you, then give yourself another year. Becoming a millionaire in seven years is still pretty good! Your goal the first year will then be $15,625 this is well within your reach. If you are convinced that you can have a cosy nest egg worth $15,625 by the end of your first year, you will have it.

If this still seems a bit ambitious for you then give yourself another year, making it eight years. Then your goal for the first year will be $7,812.50.

For most of us this seems out of reach, but when you put yourself in the right environment and with the right purpose, you will fly.

People make the assumption that you need to have a high paying job, but it’s more about the assets we accumulate than the income you receive.

My mother was a hairdresser her whole like, most of her life she was paying for all the expenses of bringing up three children and when she passed away she had accumulated more than a million rand in assets.

So, don’t say it can’t be done.

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