Everyone aspires to become a self made millionaire, but few are willing to pay the price to become one.

Most people believe that becoming a self made millionaire is easy. They envision the fancy mansion, luxury cars, designer clothes and yacht parties, and that’s the lifestyle they want for themselves. They think that once they’ve ‘made it’, that they’ll be free to live life the way they always wanted. And this is true, then becoming a self made millionaire gives you a sense of achievement. But the reality behind becoming filthy rich has nothing to do with what most people think.

Becoming a self made millionaire has more to do with who you are as a person, and less to do with how much money you have. Today, we’re going to take an in-depth look at the true cost of becoming a self made millionaire, and if striving to become one is even worth it.

A Self Made Millionaire Makes Numerous Sacrifices

Becoming a self made millionaire means making sacrifices. Real sacrifices. If you want to become a millionaire, you have to prioritize your time and focus on what matters.

That means instead of going out with friends, partying and enjoying your weekends, you spend your time working. If you want to be a self made millionaire, you have to make tough decisions and say ‘no’ even though you really want to say ‘yes’. You have to work alone at your desk when everyone else around you is having fun, and you’ll feel left out.

self made millionaire

The reality of becoming a millionaire, is that you have to make sacrifices in order to make time for what matters. Most people think that being a millionaire means that they can do whatever they want. But in order to become one, they’re forced to give up these short-term luxuries in exchange for long-term freedom.

In other words, what you do with your time now, determines your future.

The majority of people live in the moment and take what they can get. Few think about their future, or even plan for it. As a result, even fewer become millionaires. The closest they get to becoming one, is from the thoughts that run through their head when they imagine such a lifestyle.

The Struggle That I Went Through to Become Who I am Today

When I was starting out on my entrepreneurship journey, I had to make a lot of sacrifices.

I had just dropped out from college, because I realized I wanted to pursue entrepreneurship. Naturally, my mom was against my decision.

Many hours later, after a heated discussion with my family and close relatives in an event I would call The Famous Dim Sum Ambush, I convinced them to let me do what I wanted. I was committed to becoming a millionaire, and was willing to do whatever it would take.

For 5 straight years, I worked my ass off. I did not play video games, I did not visit my friends, and I did not watch TV.

Every single day I worked for over 14 hours, in order to make my dreams come true. My friends would frequently call me up and tell me to come hang out with them. I would refuse over and over again.

This type of commitment and self-discipline wasn’t easy.

The reason for my commitment and dedication, was because I was laser-beam focused on my goals.

I had already made the decision to drop out of college, and was committed to becoming successful at all costs. I kept telling myself that when I finally make it, I could then spend as much time as I wanted having fun or partying with my friends. Until that happened, I would get back to work.

self made millionaire

Barely Anyone is Going to Believe in You or Support You

The journey to becoming a self made millionaire is a lonely one. Have you heard of the expression, “It’s lonely at the top?” Well, it’s true.

If you want to become a millionaire, you should get comfortable with the idea being alone.

Spending time alone is the best way to find the time you’ll need to devote yourself to your wealth creation goals.

The truth is that not many people want to become a millionaire badly enough to make these kinds of sacrifices. Most people are content working at a 9-5 job and receiving a monthly paycheck. It is the ‘safe’ route to take, with minimal risk. After all, how are you going to pay your monthly expenses if you don’t make any income?

As a result, not many people will support you – not even your family. The people you hang around with are most likely not going to support you or your dreams. They’ll secretly wish that you don’t become a millionaire, and they’ll talk behind your back about how you’ll never make it. Why? Because the truth is that humans are naturally jealous. They don’t want to see their peers living a better life than they are. It makes them feel insecure about themselves.

If you are someone who relies on motivation or support from others to endure hardship, becoming a self made millionaire will be very difficult. No one is going to understand what you are doing or why you are doing it. No one is going to make you feel better during days when you are feeling down. The only person who’s going to be by your side, is yourself.

My mother saw me working every single day. She saw my resolve, and how strongly I believed in what I was doing. Only after she saw me put in the work, that she then started to support me and my endeavors.

Eagles fly alone. Click To Tweet

What Separates an Entrepreneur and a Wannabe-preneur?

Because I spent every single day working, my mom took me seriously. The problem with most aspiring entrepreneurs is that they are actually wannabe-preneurs.

Wannabe-preneurs are people who talk big but don’t actually do anything. They talk the talk, but they don’t walk the walk.

They make bold claims such as, “I’m going to become rich someday” or, “Wait till I finally own my own mansion”. But when it comes to actually doing the work, they get nothing done.

self made millionaire

They sit around on the couch watching TV, or spend their time on their phones browsing Instagram and watching YouTube videos. These people are not entrepreneurs – these people are wannabe-preneurs. And the reason nobdoy takes them seriously, is because their actions don’t match up to the words coming out of their mouth.

If you want to become a self made millionaire, you have to do what it takes to get there. Don’t be a wannabe-preneur, who only dreams of getting rich and never actually attains it. 

The Worst Enemy You Will Face is Yourself

Being a self made millionaire means that you make your money by yourself.

The problem is that humans are social creatures. We are genetically wired to seek connection and human interaction with other people. And when we don’t have that interaction, we become unhappy, irritated, and even depressed. Research shows that self made millionaires, such as CEO’s are depressed at more than double the rate of the general public (which is already about 20%).

We’ve already discussed how people won’t relate to you or understand what you are doing. And you might think to yourself, “I’m a tough person, I can handle it.” But what are you supposed to do when that tough person becomes your enemy?

All of a sudden, the only person that’s been by your side all this time is now against you. Becoming a self made millionaire isn’t only physically exhausting, it’s mentally exhausting as well. Somewhere along your journey you are going to start doubting yourself. You are going to compare yourself to your peers, who seem to be doing better than you are. They’re only working 8 hours a day, having a great time on the weekends, and get to collect a nice, guaranteed paycheck to reward them for their hard work.

Comparing Yourself to Others and Your Own Doubts

Your friends are working only 8 hours per day at their traditional jobs, and they’re off at 5pm, then they get to enjoy their evenings and weekends. What a nice reward. But what about you? What do you have to show for your hard work? You’re working 14 hours a day because you’re committed to achieving greatness. You’re restraining yourself from any kind of leisure, and you don’t have a single client who wants to pay you. So why should you keep going? Why do you keep torturing yourself trying to become a millionaire, when you could easily just get a high paying job and spend more of your time relaxing?

These are just some of the doubts and questions that will creep into your mind. It happens to every single self made millionaire. They wonder, Is it worth it? In the end, yes, it will be worth it.

The ones who make it, are the ones who are able to stay committed, control their thoughts and continue enduring hardship.

Once You Make It, Your Problems Won’t Go Away

Now let’s suppose you’ve made it through that journey of hardship and struggles. You’ve found success, and feel like you’ve achieved that lifelong goal of becoming a self made millionaire. Do you think your life is now going to get better, or worse?

While you may now be financially free, there are still going to be problems you have to face. Remember your friends that didn’t believe in you at the beginning? Now they’re going to be calling you up and inviting you to parties and to have fun. They’re going to tell you about how they’ve always believed you could make it, when you know and remember exactly what they’ve been saying all this time.

You may be familiar with the term gold-digger. These are people who are interested in a person only because of their money. They don’t value your friendship, or who you are as a person. These people don’t appreciate what struggles and trials you’ve had to endure. They only care about what you can do for them, and how they can take money from you or leech off of you. After all, you’re now a self made millionaire – you have A LOT of wealth that they can benefit from.

self made millionaire

So how do you differentiate between your true friends and people who just want to take advantage of you? When I finally became successful, I remember the first time I went out with my friends. We were having a great time, and for once in over 5 years, I remembered what it was like to have fun.

At the end of the evening, when the dinner bill came, everyone looked at me. They were expecting me to pay for them.

How do you think I felt in that moment, when I realized my friends that I knew since high school, became like everyone else?

People You’ve Never Met or Even Heard of Will Begin to Hate You

Especially with technology in today’s modern world, you are going to get haters. These are people who ridicule you, insult you and spread false rumors about who you are. Why? Because you’re jealous of your success.

In reality, you’ve never met these people. You don’t know who they are, and you’ve never spoken with them. These are what you call internet trolls or haters. And anyone who’s a self-made millionaire, has a ton of them following them around.

These people are incredibly jealous of what you have. They know they can’t put in the work to achieve it themselves, so they try to bring you down to make themselves feel better. The best way to deal with them is to treat them like everyone else who didn’t believe in you: Ignore them and move on.

Even I have haters that I have to deal with on a daily basis. I get emails every single day from people telling me how much I suck, or how I should stop making YouTube videos. When I was younger, I would get bothered by these kinds of comments and even get a little bit angry for what they were saying about me. Now, I frequently make jokes out of them by sending their emails to my team. We always have a good laugh because we know deep down these people have no idea what they’re talking about.

Being a self made millionaire means you are going to get haters. Celebrities like Robert Downy Jr., Elon Musk, Bill Gates, and Oprah all have haters. Remember that people only pay attention to other people who are significant. If you have haters, you must be important enough for them to give you their attention.

All successful people have haters. If you don't have haters, you aren't yet successful. Click To Tweet

Your Identity, Mindset and Outlook will be Forever Changed

Once you become a millionaire, your entire outlook on life will be changed. Permanently.

You won’t be able to go back to living a normal lifestyle. You’ll demand only the highest standards, and won’t be content with anything else. You’ll be spoiled by what you have, and constantly raise the bar on what the definition of the ‘best’ means – for both everyone around you and yourself.

self made millionaire

The way you think, speak and act will be different as well. The way you see the world will be from an entirely new perspective. You’ll lose your old identity, and be transformed into someone completely different. Are you prepared to pay that kind of price? Can you bear the thought that no one will recognize who you’ve become? Are you comfortable with that kind of change in your life?

Why Most Self Made Millionaires Tend To Self Sabotage

The truth is that most self-made millionaires have trouble shedding their old identity and adopting their new one. Their bank account may have millions in it, but the identity they’ve created in their head doesn’t match it. They often struggle with self-doubt and imposter syndrome. They still think they’re not good enough, and they think they don’t deserve their success. They’ll begin to self-sabotage their own success, because how they see themselves doesn’t match what their life is like. And to resolve that discrepancy, they’ll lower themselves until it does.

Having inner conflict within yourself is one of the top reasons why self made millionaires go broke. In the process of becoming a millionaire, they lose who they truly are. They start to doubt themselves, and no longer know who is right and who is wrong. They become influenced by others who don’t have their best interests at heart, and become swayed by con-artists and scammers. Statements such as, “The rich are greedy” and “Money is the root of all evil” begin to eat away at them. They might even think that these statements are true, and everything they’ve built up to this point has been a lie.

What would you do if you spent 10 years of your life struggling to become a millionaire, only to have your inner self tell you that you’re an imposter, and it was all a waste? Would you be happy, or would you be in chaos?

Taking The Road Less Traveled Makes All The Difference

Most people do not understand the true cost of becoming a self made millionaire.

For those who have never achieved such a goal, they believe once someone becomes a millionaire, their life magically becomes a dream fantasy. They can buy whatever they want, live life to the fullest, and feel better about themselves.

But the truth is that becoming a self made millionaire comes with a price. You’ll spend all your time chasing after a dream only you can see, that might not show itself until years later. People will doubt you, and you will even doubt yourself. You’ll be put to the test and pushed to your limit physically, mentally and spiritually.

And when you finally achieve your dream of becoming a millionaire, the only thing that changes is the number of dollars in your bank account. How you view yourself, how others view you, and what kind of mindset you have going forward, still stays the same. If you want to truly become free in every sense of the word, there’s more to it than just becoming a millionaire.

You need to free yourself from everything that’s holding you back. And that means transforming who you are now, into the best version of yourself, and meeting yourself at your highest potential. Instead of having self-limiting beliefs that hold you back, you must look within, analyze, and overcome them to realize your greatest potential. The most successful self made millionaires, are the ones who have dealt with their own inner demons, understand their weaknesses, and have turned them into strengths.

If you’re looking to transform your life, mindset, finances and skills so you can achieve freedom and become a self made millionaire in every sense of the word, click here to apply for a free session with one of my high income advisors.