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5 Sources for Learning What It Takes to Become a Millionaire To achieve you dreams you must become a student of success.

By Timothy Sykes Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.


When it comes to learning the ropes of how to be a millionaire, nothing is as important as your education. Getting an education on becoming a millionaire may differ slightly from your traditional educational approach, but it is still all about the learning process. If you are interested in becoming a millionaire and earning substantial money that will cover you over the long-term, then here are a few education techniques to consider.

1. Learning online with the right websites.

The Internet is a great educational resource for anyone seeking more information about earning money through their investments. However, it is important that you take the time to turn to the right resources. Websites such as Lynda, Udemy and Profit.ly are all great resources for aspiring millionaires. Sites like this allow you to learn and interact with the best traders online so that you can take your trading skills to the next level. These online educational marketplaces are designed to help people hone their learning skills and are valuable tools for individuals that want to learn as much as they can about the market and different trading techniques.

Related: What It Takes to Go From Dead Broke to 6 Figures in 6 Months

2. Books.

Reading is the cheapest but most effective way to learn the valuable tools needed to trade smart and earn a great deal of money. You can buy books online or in bookstores, purchase e-books for a discounted price or even get a library card and check them out from your local library. The point is that investing in books will provide you with a more applicable amount of knowledge on investing than a college degree (and it is much cheaper as well!). You should see top rated stock market books here. Never underestimate the power of a good book.

3. Follow other successful people on social media.

To learn how to be successful you need to know what other successful people are doing with their time. Get on all of the major social media sites such as Twitter, LinkedIn and Quora and start following successful and established investors. Learn what these people are doing and saying, and how they think. Learning from individuals such as these is a great way to see first-hand what the best in the business do. You may be surprised to find just how much they reveal from their social media accounts.

Related: The 5 Mistakes Standing Between You and Your First Million

4. Become an expert in niche categories.

To become rich you need to become a specialist in a niche category few other people specialize in. To make a significant amount of money focus on non-traditional ways of earning that type of income. You don't need to be a doctor or a lawyer to make money. In fact, you don't want to be a doctor or a lawyer if your focus is on making money. In addition to having hefty school loans, these individuals often have a set ceiling on how much they can make. Think outside the box and you can open up your earning potential much more.

5. Failures and mistakes are a crucial part of your education.

One of the biggest parts of your education is actually in the failures and mistakes that you make. They are essential to your development. You shouldn't fear them, but instead embrace and learn from them. You are going to fail. The key is to fail fast, fail often and fail forward, meaning that you adapt to your failures, learn from them and look to the future. The sooner you make your mistakes and the quicker you move on from them, the sooner you can adapt in you pursuit of success.

Your education in becoming a millionaire is about more than courses, classes and homework. It is about learning from the world around you and adapting to your journey so you can make the most of your experience and learn from both your mistakes and your triumphs.

Related: To Thrive You Need to Wake Up to These 5 Hard Truths

Timothy Sykes

Entrepreneur and Penny Stock Expert

Timothy Sykes is an entrepreneur and a penny stock expert, trader and advocate. He has been featured on CNN, Fox News, CNBC and more. Watch his media appearances and speeches on Youtube here.

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