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Myths about millionaires that keep you away from wealth

September 15, 2023

Do you dream of becoming a millionaire? If so, it's time to debunk some myths that could be standing in your way. Understanding personal finance and setting clear financial goals are key steps towards building wealth. Let's dive into the most common misconceptions and see how bunq can help you on your journey.

Myth 1: Millionaires Inherit Their Wealth

Of course, some people are born into wealth. At the very least, it's undeniable that, on the road to becoming a millionaire, some people get a head start. However, contrary to popular belief, most millionaires don't inherit their wealth. Many build it through smart financial decisions, hard work, and strategic investments. With bunq's Easy Investment feature, you too can start growing your wealth today. The best part is that it doesn't require any effort. You simply open an investments account in the bunq app and choose an investment strategy that best suits your goals. You can even set the app to automatically invest your spare change. Paid €4.20 for a sandwich? That's 80 cents added to your investment portfolio. Over time all those little investments really start to add up!

Myth 2: Millionaires Don't Work Hard

This is far from the truth. What a lot of millionaires do have in common however is that they love the work they do. Most millionaires work extremely hard, often juggling multiple income streams, but an important reason why they do this is that they have found their passion and dedicated their lives to perfecting it. They also understand the importance of managing their money wisely. With bunq's sub-accounts and easy budgeting features, you can easily track and manage your various income sources. Not only does this help you reach your financial goals faster, it also frees up precious time you can spend on doing what it is that you love.

Myth 3: Millionaires Take Huge Risks

While some degree of risk is involved in wealth creation, most millionaires take calculated risks. They invest wisely and diversify their portfolios. bunq's savings account offers a safe and reliable way to grow your savings and benefit from our high interest rates while you explore other investment opportunities.

Myth 4: Millionaires Have High-Paying Jobs

Not necessarily. Many millionaires are entrepreneurs or have multiple income streams. It's not all about how much you earn, but how well you manage and grow your money. bunq can help you do just that with its wide range of financial management tools.

In conclusion, don't let myths keep you from your financial goals. With the right mindset, knowledge, and tools like bunq, you're well on your way to building your wealth. Remember, it's not about becoming a millionaire overnight, but about making smart financial decisions consistently.

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