Our culture leads us to believe that it is impossible to become a millionaire these days, but it is time to change your thoughts about it. Chris Hogan, in "Everyday Millionaires" destroys the myths that are holding people back from achieving financial independence.

Chris and the Ramsey Solutions team surveyed over 10, 000 US millionaires, discovering how these high-net-worth people reached their financial status. A millionaire status does not require inheriting money or having a well-paid job. No! The way to get there is built with tools that you have already mastered or can master.

If you thought you could never become a millionaire, think again.

The book "Everyday Millionaires"

"Everyday Millionaires" was released in 2019, written by Chris Hogan and is based on the biggest study made in the US about millionaires to reveal an essential truth - becoming a millionaire is something we all can do.

"This book will show you how 10, 000 millionaires have succeeded. And if you follow in their footsteps, I know you can - and will - join them someday."

The work has 272 pages and divided into 10 chapters.

Who is Chris Hogan?

Chris Hogan is a financial expert, best-sellers author, speaker, and coach. For more than a decade, Hogan has served as a financial educator for Ramsey Solutions teaching countless people to take control of their financial lives and reach their goals.

Hogan also releases weekly episodes of his "Podcast The Chris Hogan Show".

Who should read this book?

As we begin this book, I want you to believe in what each of the 10, 000 millionaires mentioned stands for. I want their belief to become yours. If you believe that the millionaire status is not in your reach, Chris's goal in this book is to show it is.

The book "Everyday Millionaires" is not a theory and certainly not a fairy tale. It is a real-world research-driven manual designed to assess your paradigm or world view on wealth. Hogan will show exactly who they are, how they act and how you can join them - no luck, lottery or inheritance.

So if you're willing to believe what Chris Hogan is going to teach, this book is for you!

What are the key points of the book "Everyday Millionaires"?

Chris Hogan listed five key attributes of the millionaires routine which will show how they act, think, plan, work, and invest. These qualities are:

Millionaires take personal responsibility;
Millionaires practice intentionality;
Millionaires are goal-oriented;
Millionaires are hard workers;
Millionaires are consistent.

Sounds interesting, doesn't it? So let's learn!

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What is a millionaire?

Chris Hogan says there are two components to the millionaire definition. One is emotional; most people want, someday, to achieve financial independence. They want to believe that there will be a day in the future that they will not need to work for the rest of their lives.

The other is math; it means that someone is a millionaire when he/she has a net worth (assets - liabilities) equal to or bigger than $ 1 million. For example, if you have a house of $ 400, 000, plus $ 5, 000 in savings and $ 3, 000 in the current account your assets will be $ 408, 000.

Assuming that you have $ 10, 000 in debt, that is, your liabilities are $ 10, 000, we will conclude that you have a total stockholder's equity of $ 398, 000 ($ 408, 000 - $ 10, 000).

Now that the definition of "millionaire" is defined and clearer, or better still, it is looking more like a goal apart from being just a dream, let's go to the myths that involve the millionaires.

The Millionaires' money

Most people think that millionaires' money came from inheritance. However, Hogan's research reveals that only 21% of them received some inheritance, that is, 79% did not receive a penny. With only 16% inheriting more than $ 100, 000.

This means that most of the millionaires are self-taught. Research has also shown that most are rich in the first generation. Besides, 8 out of 10 came from families with income equal to or below the middle-class level.

These numbers lead us to a question: "Are millionaires just well-off?"

In fact, 76% of respondents say that everyone can become a millionaire, just have discipline and a lot of work (that's right, they did not get rich overnight).

Another problem pointed out by Chris Hogan in his book "Everyday Millionaire" is that fewer and fewer people want to work hard. In other words, many want to get things done quickly. This comes from the fact that we consume information almost immediately.

With the advancement of phones and the internet, we can now discover any fact or statistic in less than ten seconds by simply picking up the device in our pocket.

We are so used to consume information quickly that we become impatient when this task demands effort. This prevents us from building wealth.

So, if you want to be a millionaire, it is critical to have financial discipline and consistently spare it. Both actions require time and effort; however, if you follow them, you will enjoy the results in the future

Financial responsibility

Usually, people do not take responsibility for managing their finances. Hogan's research found that while 56 percent of Americans were concerned about retirement, few were actually preparing for it.

In fact, if they cared about retirement, why weren't they preparing for it? What prevented them? They are responsible for their own money. Only them can do this.

That's exactly what millionaires do. They understand that they are responsible for their own money. The research pointed out that 97% of them say they are responsible for their destinies. They also know that once they take control of their finances, the journey to become a millionaire begins.

To know where you are and where you want to go, financially, you need to calculate your net worth. There are online tools that calculate it, including the author's website. By getting that number, you will know where you are, and then it is time to find out where you want to go.

Ask yourself, "How would you like your retirement to be? Where do I want to live? What kind of car do I want to drive?" Once you do this, you'll know how much money, exactly, you'll need to make your vision come true.

It will be possible to know how much to save every month from now on to reach that number. Remember that only you can do this.

Books about money

Grant Sabatier, in "Financial Freedom" says that financial independence is to be free to do whatever you want. You can have it.

Making a lot of money quickly is possible. Having more time is possible. Living life on your own terms is possible. You have a unique opportunity that many do not have. You really can have all the money you need.

In the book "The Total Money Makeover", author Dave Ramsey gives the following tip: Although you know you need to adjust your financial situation, you cannot change everything at once.

So you have to take it one step at a time; in this way, you will make a gradual breakthrough and stay motivated without radical changes in the short term.

Another work that also explores the subject is "The 4-Hour work week". Tim Ferriss says that instead of working hard for the rest of your days in an office, waiting for retirement, start enjoying life today, from a mindset change.

So, how can I begin my journey to become a millionaire?

Millionaires are not a group of extraordinary people. Many of them were not born with money and privileges. Instead, they are normal people who did set goals earlier in life and are willing to dedicate themselves to work and sacrifice for those goals to occur.

If you have no idea where to start, look for an investment professional. Chris Hogan's website has this feature too. Ask questions about experience, certifications, philosophy, and fees.

Finding the right fit will be worth your time. After all, it's your wealth.

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Everyday Millionaires - Chris Hogan

To become a millionaire, you don't need to inherit something or earn an astronomical salary! There are tools that you have mastered, or can learn to master easily, that will help you achieve financial independence.