This week, I’m talking about how to become a millionaire. 

Today, I’m talking about the absence of millionaire market timers. 

The most popular YouTube channel on day trading stocks is a channel with about half a million subscribers and more than 16 million views on her channel. 

It’s not uncommon to see ads or videos online touting how you can get rich easily and quickly by day trading, options trading, or short selling. You see this kind of stuff all the time with real estate too.

But I ask you this: Have you ever met a millionaire market timer or a millionaire day trader? Despite being touted as such, most of these strategies aren’t easy or formulaic, but instead are more akin to gambling than actual investing. If it were simple and easy, you would know plenty of people who got wealthy this way and you would likely be wealthy yourself from day trading, options trading, or risk-free house flipping. 

But my guess is you don't know a single person who is wealthy from any of these methods.

Part of what makes a successful investor, successful is their ability to avoid chasing the next get rich quick scheme or fall victim to really bad investment ideas. Millionaire understand this and don’t fall victim to get rich quick schemes. They are perfectly happy to win the race the tortoise way by diligently saving, making smart decisions about where to invest, and growing their wealth over time. 

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip.

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