Millionaires Around The World
In May 2012 Forbes reported that the Global wealth is now up to $121.8 trillion, a $9 trillion gain, in 2010. “Global wealth is at an all time-high.”
The U.S. still has the largest number of millionaire households, with an estimated 5.22 million, representing 4.5% of all American households. That is up from 4.75 million last year and up from 4.14 million in 2005. Of those, just 2,692 are ultra-high-net-worth households with more than $100 million in assets under management.
Japan is second once again with 1.53 million households, up from 1.24 million last year, but that increase is entirely driven by the exchange rate, not any appreciable gains. Notably Japan does not even rank among the top 15 countries in terms of UHNW households.
The “biggest growth engine” this year is China. It now has 1.11 million millionaire households, nearly one-third more than a year ago when BCG counted 850,000 and nearly triple the 410,000 it found in 2005. The big story there though is that it moved up five notches from 13 last year and was the only country to make that kind of jump.
India, the country to which China is most often compared, barely competes in these rankings. It has just 190,000 millionaire households, enough to place 11th, and 215 high net worth individuals.
The places with highest density of millionaires are Singapore, Switzerland, Qatar, Hong Kong and Kuwait.
Millionaire In The Making
Do you want to become one of them? Of course you do. Everyone want the freedom to do business in the way they choose. There is so much power in running your own business—and having a business that runs itself, which is the ultimate goal.
Making money is not the only goal of becoming a millionaire – it’s about freedom. Many people across the world are gifted with experiencing this freedom everyday.
How you can become one of these people? What kind of life, and business, do you want to run? Would you like to read your email from a private plane? These are the kinds of goal many people have in mind when the begin to forge ahead with their business ideas.
But the truth is that the rich and the successful – the millionaires off and online have about nine characteristics in common. The truth is we all have the potential for greatness, if we can train ourselves to keep.
Nine Factors Common To Millionaires
My next book “The Makings of a Millionaire” will be published soon, so get on my mailing list for the announcement. It was written to help people become millionaires. In my book I talk about the importance of developing a millionaire mindset, and understanding the factors that make millionaires.
Here is a list of factors that make millionaires, which I go into more depth in other articles.
1) They don’t blame. Successful businesspeople don’t blame others. Instead of making excuses for bad outcome, they take time to learn from their own mistakes.
2) The are decisive. Millionaire-types have a vision. They take quick, decisive action aligned their vision.
3) They trust their intuition. If an opportunity excites them, and sound like a great deal, they go for it.
4) They are singly focused on the Core business. Successful entrepreneurs may be inspired by ideas, but they remain true to their vision. They focus on opportunities that are aligned with their business’s purpose.
5) They are marketing focused. They understand the importance of building on the core business. They hire people with specialties in marketing.
6) They understand the importance of continued education. Successful businesspeople are always learning and drawing from other peoples experiences. They listen to how other people have achieved their success.
7) They are not afraid to make mistakes. The know that mistakes are building blocks for success. By making mistakes you learn what works, and what doesn’t.
8) They model their business for success. They model other people’s strategies, and systems. They constantly look for models of success in everyday life, and think how to incorporate those lessons into their own strategy.
9) They build a team to rely on. No matter what stage you are in with your business, you’ve got to realize you cannot do it all.
You should apply these characteristics of business millionaires into your business. Develop the millionaire mindset.
Making a million dollars takes time, so focus on making your first hundred, then your first thousand, and then your first hundred thousand.