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Recipe to become a millionaire

Income, howsoever large, is not likely to sustain your lifestyle when your pay-cheques stop. Since your income can and will (most probably) cease some day, you must start converting it into wealth.

Wealth is the very foundation of your financial independence.
  • It is the foundation that will support you and your family in your non-earning years
  • It gives you an opportunity to retire early from your vocation and live the life as you desire
  • It has the ability to fulfill many of your dreams and aspirations without affecting your financial position

The income-to-wealth recipe is the basic strategy to translate your income into wealth. The five steps to becoming a millionaire are:

Step 1:  Collect all incomes from various sources
The first step i.e. inflow of money is dependent on your profession, job, business or some such source of income.

Step 2:  Filter out the Wealth Dissipaters
When you value every rupee you spend, you are spending prudently. You are making sure that the Wealth Dissipaters are not eating away your income.

Step 3:  Build protection against Wealth Destroyers
Instead of avoiding risk, you are taking calculated risks with suitable precautions built-in to protect your money from any serious damages that these risks could cause.

Step 4:  Channelize your income through Wealth Creators and Wealth Preservers
Investing your income in Wealth Creators and Wealth Preservers is the core of the Wealth Creation process. By doing o, you are endeavoring to make the best out of your money.

Step 5:  Reap your Wealth
Employ this recipe prudently, systematically, consistently and patiently…becoming and remaining a multi-millionaire will surely be a reality some day.


The terms Wealth Creators, Wealth Preservers, Wealth Destroyers and Wealth Dissipaters call for a much deeper understanding if you have to make right financial choices. They are the very essence of the Income-to-Wealth Recipe. Therefore, they have been discussed in great detail in my book 'Millionaires don't eat cakes...they make them'.

However, to give you a brief preview, the same have been broadly defined here so that you get a better understanding of this whole process.
  • Wealth Creators: These have the potential to enhance the value of your money.
  • Wealth Preservers: These will at best protect your capital.
  • Wealth Destroyers: These could ruin and wipe out your entire money.
  • Wealth Dissipaters: These will slowly but surely erode and corrode your money.

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