10 Reasons You’re Not A Millionaire

future millionaire

There seems to be an impression that the only reason that people aren’t able to become millionaires is because they don’t work hard enough. The truth is that hard work has very little to do with becoming a millionaire. That’s not to say that you don’t have to work hard. You do. But you also need to avoid the many pitfalls and bad financial decisions which end up being the real cause that most people aren’t able to build wealth. The truth is that you don’t have to have a huge salary to gain assets in excess of a million dollars, but you do have to make good financial decisions (and avoid making bad ones).

It’s important to note that a single issue i


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27 Responses to 10 Reasons You’re Not A Millionaire

  1. Erin990 says:

    Divorce killed my finances. Being a wife that earned more than my ex husband, I not only lost half of what I had, but continue to have to pay alimony to him. It was the right move (he was crazy), but it wrecked my finances and I’m still trying to recover.

  2. wanda says:

    Kids is a huge one. I love my kids as much as any mother, but I sure wish I had them when I was a little older, more mature and had a well established job.

  3. Christian Mom says:

    Children are God’s gift and never a thing that holds you back in any way! You should never blame children for financial issues because God wouldn’t have given them to you if you were only worried about money. You can’t even compare the two!!!!

  4. richard@moneygraffiti.com says:

    Heck, I can add at least 10 of my own:

    1. I’m always broke.
    2. I never have enough money.
    3. My expenses exceed my income.
    4. I always buy high and sell low.
    5. (Plus, I buy the wrong stocks to begin with.)
    6. I lend money that’s never repaid.
    7. I have champagne tastes and a tap-water budget.
    8. My taxes keep going up.
    9. My income keeps going down.
    10. My money is spent before I receive it.

  5. dave says:

    Are you serious?

  6. dave says:

    You forgot spending your free time writing stuff on money 😉

  7. Terry says:

    Do you believe a person earning minimum wage can become a millionaire? What is the minimum income that would make it feasible for a person to become a millionaire?

  8. jeffrey says:

    No, but I would expect for someone to not be earning a minimum wage their entire life. I’m also a big advocate of having multiple income sources so that you’re never reliant on a single source of income (those are part of the next article — 10 More Reasons…)

  9. jim says:


    Best thing you can do is let it all go – all of it. Then just start taking care of YOURself. Good luck!

  10. jim says:

    No – you really don’t wish you had them when you were older. When you do that (and we had one when we were in our 20’s and another when we were in our 30’s) – you’re putting your youngest thru college/grad school when you really need to be seriously saving for your retirement and paying that mortgage off. Count your blessings.

  11. wanda says:

    Actually, since I had them at 17 and 19, I think that, yes, I do still wish it.

  12. wanda says:

    I never blamed them for my financial issues. I just said that I wished I was a bit more mature when had them and I take offense that you would try to project your religious morality on me. Maybe you need to look in the mirror and hold yourself a bit more accountable on how you treat others.

  13. Christian Mom says:

    With an attitude like that, you’re going to Hell. Your disregard for God’s gifts to you won’t be judged lightly. You need to express more humility toward Him.

  14. Leumas says:

    Your’e a sad excuse for a reasoning, rational person. Believe in Easter Bunny and Santa Claus too?

  15. Alexandria says:

    Yeah, I wish I had my kids as a teenager – I’d be so much better off financially. Um, NOT!

    Actually, reread second paragraph: “It’s important to note that a single issue is likely not what’s keeping you from millionaire status, but a combination of several of the actions and decisions you’ve made.”

    I don’t believe there is anything inherent about “having kids” that would keep one from being a millionaire.

  16. wanda says:

    I don’t even know how to respond to this. I would suggest that you stop trying to force your religious beliefs on others and spend more time worry about your own faults.

  17. Ha ha, I think you were right about children being your hot button item. I love my children, but it would have been better for them if I had waited 5 more years to have them. Early twenties vs late twenties can mean a lot of money when you factor in compounding interest. It could have meant more opportunities with the increased money. Better college, better public school, better tutoring services. People that have children with no thought of how to take care of them are the ones being selfish.

    If you are worried about paying for their school by the time you are getting geared up for retirement savings, then you didn’t save for their schooling properly before hand.

    If you are making minimum wage, then you should quit your job. Start any low budget business (home cleaning, dog walking, babysitting, lawn mowing, snow removal) these take about 5 seconds to get started and if you start hustling you can make more then you were by the end of the week.

  18. gregory says:

    Or maybe I don’t want to be a millionaire 😉

  19. Minny says:

    Entering the child debate – with bated breath!! One reason children make people poorer here in the UK is the insanity that is buying stuff for them that has happened here in the UK.

    Mine are mid 30s, had second hand equipment, second hand clothes and toys. There was enough room in their bedrooms to store the toys they had, no television in their rooms and they ate what everyone else did at mealtimes. Now the opposite is the norm, no matter what the income.

  20. Minny says:

    See you there!

  21. Gailete says:

    Along with Erin, I agree so much with divorce. If only we had known these guys were crazy in the first place. Thankfully I didn’t have to pay alimony, but I did have to fork over child support until I fired my lawyer and took my ex to court on my own and got the custody settled a better way.

    Also, coming down with a chronic health problem that put me on disability at the peek of my earning years hasn’t helped.

    While we are not yet at the point of saving 20% of our income, In the last two years, I have actually been able to save some money which is better than what we were doing before. Still I use several on line ways to make money which greatly helps our financial bottom line. Currently I’m looking forward to getting my next AdSense check next month which will go into my Roth IRA.

    I guess I don’t expect to become a millionaire, but without some of those speed bumps, of ex’s and bad health, I would have been well on my way to it. Instead I’m trying to get our finances as high as possible before we can no longer work.

  22. Retired Syd says:

    I retired at 44 and agree that all of the things you mentioned play a role in being able to save enough to achieve that goal. Despite the tiff above over the impact of children, it’s pretty obvious they cost money–just like all the other things you mention. We never wanted kids, which gave us an obvious advantage when it came to saving money. Having said that, the cost of children never entered my mind when deciding not to have them. It’s simple either you want them or you don’t. And before someone jumps on me for defying God or something–that’s why God gave you a brain in your head, so you could make your own decisions.

  23. Josh says:

    You sound just like me. I must be a millionare. No less. But I will like to find a girl who understands frugality and doesnt want kids

  24. queala (also a christian) says:

    Amen, Wanda! Some things turn out better when they’re planned for better – which takes maturity in most cases. Christian mom is judging – which is why christians get a bad rep…jus sayin’

  25. Jason says:

    The words i live by are do i want it or do i need it?

    It is all about finanial management, working very hard and getting up the career ladder, have good educational creditenials or experience and saving and investing.

    All a average person needs is a good paying job to begin with, maybe $40k as a start. Work a couple years, save as much as your disposable income, run an average car, eat well, be the one that is the most skilled at what they do. Education helps with getting the higher paid senior positions. Property and investments is where most money is made, whether you earn 40k or 150k. Appreciation in assets and return on investments act as a second income.

    Obviously,being an actor, some sort of celebrity or lottery winner is the fastest way but that is very unlikely to happen.

    One of the easiest ways is start your own successful business. In the 21st century, this is the hardest route but the most rewarding if it works. Or through criminal avenues but i don’t recommend them if you want to stay alive.

    My last tips are not to buy junk and crap you don’t need or can’t afford. Stay away from high interest credit cards and borrowing and live within your means even if it sucks and life is not fun.

  26. di says:

    Learn to live without.

  27. di says:

    Albert Einstein: Simplicity is the ultimate sophistication.

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