How much dedication does it take to become a millionaire?

A lot.

Believe it or not, most people hold on to their money tightly. To become a millionaire, you need to provide millions of dollars of value to a lot of people. This takes time. Regardless of what field you are in, how smart you are or how hard you work, convincing people to give you their money is hard, really hard.

For most people it takes many years to make a million dollars. Years of education, training, working and experimenting before they become good at making money. Then once they become good at making money, they need to also be good at managing money which is an entirely different skill.

My cousin became a doctor. He was was always the best student in his school; 16 years of doing every single homework assignment, studying for every test, getting A’s in every single class. All of this work, plus extracurriculars, volunteering and several other resume building steps. He finally as a senior in college applying to medical schools, he applied to six places, wrote essays, flew across the country multiple times for interviews …. he didn’t get a single acceptance.

With no graduation looming, no medical school and no job offers, he decided to spend a year in a volunteer program where he’d live and work at a school for underprivileged kids. Then he could re-apply to medical school the next year. This time he sent out more than a dozen applications, most to lower tier schools, he got accepted to one of them. At this point he was 23 years old with only one option to keep his dream alive. He went on to get through medical school and a residency becoming a general physician working at a hospital. Coming out of college with great grades and a top notch resume that could have landed him many good jobs, he stayed determined to become a doctor. He moved across the country to attend school, then again for a residency, then again for his first real job.

He was 30 years old and over $200,000 in debt before he got his first real paycheck as a doctor. He’ll be well into his thirties before he has a positive net worth and likely in his fifties before he gets to $1 million net worth. This is how long it took for someone who was an elite student, strategically going into a high paying field, spending decades making discipline and responsible decisions to be successful.

There are certainly easier and faster ways to make money than becoming a doctor. It will take him years of work and discipline before he reaches $1 million, and he has an advantage over most of us. Most of us couldn’t do that.

Regardless of what you do, to make a lot of money you need to provide a lot of value to a lot of people. You will run into problems and setbacks along the way. You need to be dedicated enough to work through them until you find success, most of us won’t.

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