How to become a self-made millionaire

How to become a self-made millionaire

1. In a free-market economy, anyone can make as much money as they want.
2. Your background, highest level of education, or IQ is irrelevant when it comes to earning money.
3. The fastest way to make money is to solve a problem. The bigger the problem you solve, the more money you make.
4. Don't listen to the naysayers who tell you that life is supposed to be a struggle and that you should settle and be grateful for what you have.
5. Expect to make more money. For this one you have to think big. $100,000, $500,000, or why not $1 million?
6. Lose the fear and scarcity mindset and start seeing money for all the good things: freedom, opportunity, possibility, and abundance.
7. Being rich isn't a privilege. Being rich is a right. If you create massive value for others, you have the right to be as rich as you want.
8. Don't wait for your ship to come in. You're not going to be discovered, saved, or made rich by an outside force. If you want a lot of money, build your own ship. No one is coming to the rescue.
9. Stop worrying about running out of money and focus on how to make more. Constantly worrying about money is no way to live. Dream about money, instead.
10. Stop telling yourself that getting rich is outside of your control. The truth is that making money is an inside job.

When is the right time to buy the stock

Well one of the biggest issue with investing is when to buy? To be a success full investor, buy low sell high. So when is best time to buy. Few of the right time to buy are

1. When there is panic on the street, buy when every one wants to move out of the market.
2. During recession time, stocks are available very cheap
3. During recession for particular sector, currently its infrastructure, mining, commodity
4. Rumor spread for a particular stock
5. Whenever there is a downgrade for a stock/sector institutional will run for sell
6. When particular sector is doing great, currently FMCG/Pharmaceutical/Software Industry

Buying stocks doesn't mean buying cheap, cheap can still become more cheap. Thorough check of balance sheet/cash flow is required before purchase. Also the management capability, there track record in pulling the business back to growth.