How Millionaires become Millionaires 101:

Have you ever wondered what you should invest in? You know, that magic investment that will make you wealthy?

Out of all of the questions I get about money, this is what I hear most often: “Krisstina, what should I invest in?” And, those inquiring about enrolling in my Wise Money School ask: “does this program tell me where to invest?”

The truth is, this is the wrong question. Or at least, in the wrong order. 99% of the entrepreneurs I speak with and consult… well, their money (in their business and household) is messy, disorganized, unaccounted for, sloppy, ignored… The list goes on.

You see, the last question you need to be asking before you get your money working like a well-oiled machine is: where should I invest. Like that question alone is the magic bullet for wealth creation. It’s not.

And, besides that, foundationally, there are really only two places to invest:

1. Invest in another person: to invest your money.
e.g. A financial advisor. Fund manager. Your uncle. Krisstina. You name it.

2. Invest in yourself to become an investor: You invest your money.

  • Caveat: This doesn’t mean you won’t ever need help or a team. It means you’re the CEO of your investments. Just like you are the CEO of your business, you steer the boat. 
  • TRUTH: No one cares about your money or your future more than you do. Also, no one can attract money and opportunities to you other than you. 
  • Not to mention, investing is nuanced. What works for me won’t necessarily work for you! Why? Because my age, interests current lifestyle, freedom number, and future ambitions are mine, not yours. And yours are yours, not mine. 

When people give their money to a financial advisor they don’t ask the right questions.

Mostly, because they don’t know the questions to ask. They trust their advisor to pick some assets to invest in and in turn — make them wealthy. Keep in mind, that a different advisor would give totally different advice to the question, “Where do I invest?”← that’s odd, isn’t it? Kinda makes a point.

Or, if you missed it — the key point here is: It’s not about the investments you make but instead it’s about the person, advisor, or institution that is investing your money.

There are flaws with this thinking but I won’t dive into that now.

If you want control, competence, and confidence in managing your own money (and therefore your own wealth) — first, congrats. You are one of few.

To sum that up. The question to replace “where do I invest” is “what do I need to learn and know to feel in control of money and competent and confident in all of my money choices, including investing?”

Which would fit you in #2 above:

“I want to invest in myself to become an Investor (because I want to manage and grow my money for my dreams and not abdicate my hard-earned dollars to someone else who has no skin in my game)”

Sure, investors have a particular skillset but most importantly what investors have that set them apart from non-investors is an “investor mindset.”

Let me give you an example of something similar:

Let’s say you come to me and say, “Krisstina, I want to have a successful business. What business do I need to start? Tesla did well… should I start an electric car company?” … maybe? …

Asking me what to invest in to become a millionaire (or whatever wealth means to you) is like asking me what business to start to have a successful business… There are MILLIONS of different businesses making millions of dollars. There is no “one business” that you need to start to be successful. It’s about being a good business owner. Then, any business you start will be successful. 

So you ask, not what business should I start, but “how do I run a successful business.” You then choose an industry that excites you, that you want to learn about, and one that gives you the life you want.

There are about 12 million millionaires in the US today. I guarantee you, they all amassed their millions differently (i.e. invested differently). I’d be surprised if any two were exactly the same.  Now, what they likely all did have in common were these mindsets:

How Millionaires become Millionaires 101:
*Without winning the lottery or being a trust-fund baby. (Which are both great btw. Just not the majority ;))

⟶ They believe that there is no shortage of money. In fact, there is more money circulating in the US today than ever before. And the belief that the more money you have doesn’t take away from someone else’s ability to build wealth.

⟶ They love their money. The manta is: What you appreciate, appreciates. Focus on becoming wealthy (and why you want to be wealthy) and have immense gratitude for every dollar that comes and goes.

⟶ They know that their money has to grow (money grows money) to build wealth. Which means it can’t sit in a bank. So, they jump over the fear of losing their money and take (calculated) risks (that others don’t take.) They follow their investor instincts.

⟶ They love to manage their money. They know their numbers. Especially how much it costs to live their lifestyle. Then, they keep their lifestyle costs fixed so that they can invest the surplus. This requires that they know what is meaningful spending and what is frivolous.

⟶ They are committed to having Financial Sovereignty. That means they know how much money (wealth) is enough. It may be 10 million or 1 million. But knowing their destination means they can have the vision and strategy to get them there in the time frame they desire.

⟶ They understand the difference between making money and building wealth. They focus on making money as a means to building wealth. But they are focused more on the wealth than on the making money.

⟶ They are not in a hurry. They are methodical and allow time (compounding) to work in their favor. They have their plan in motion, so they don’t worry about the money. They know at this point, it will take care of itself (with some active participation of course)!

The point is, stop trying to find the investments but instead find education (and mentorship) to become an investor.

When you have the confidence, competence, clarity, and control over your money — trust me — there is NO shortage of opportunities to invest. The opportunities are there, they’ve always been there and will always be there.

It’s about first believing this as truth; second knowing how to spot an investment when they land on your front door; third taking action and making the investment; and fourth knowing why you’re doing so.

In summary: The difference between those that have wealth and those that do not, is a difference in Mindset. To build wealth (fast) requires an Investor Mindset (which is distinct from your day-to-day Money Mindset).

Action: Listen to this podcast episode (and subscribe) to learn about an Investor Mindset shared by me and my good friend, multi-millionaire, Jerremy Newsome.

Comment below your thoughts and insights!

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