Well, it looks like the Facebook IPO is on its way to reality and that it will create many millionaires from all of the people who have owned shares during their work there. Some of those wonderful Facebook IPO millionaires will stock a great chunk of the money away to pay for their kids' college funds and a select few will even put all of it away for the future for their own retirements. I have a feeling that most of them will run into the mo' money mo' problems situation. I realize that I am not a millionaire, though I hope to be one some day. From reading books like The Millionaire Next Door, I've come to learn that most millionaires got that way by living below their means and making sure that they pay themselves first. If you inherited a large sum of money or you got a huge promotion, where would that money go? For me, some of it would go toward my large debt, a tiny bit would go on one trip or one piece of jewelry for the lady, but the rest of it would have to go into savings. It's the only way that makes sense for sustained wealth.
If I can get to the point where I'm selling 100 (or even 1,000 books per day), I will have gotten to the point where I could save up and become a millionaire in my lifetime. I used to think about get rich quick schemes or creating some company and finding myself in a wonderful situation like the Facebook IPO folks are in. If you have had a successful venture such as this, make sure that your savings and paying yourself first are the biggest priorities for you. Not a new car/house/etc. I would wait for at least a year to see where the other shoe drops before making such a big purchase. I mean, look at NFL players who make tens of millions and end up broke halfway through their career. Save. Invest (safely). Live below your means. That's how you too can become a millionaire.
In the writing world today, I worked on Identity Interrupted, worked on a blog tour post and I posted a character writing prompts page about sports fans.
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